SGX Nifty slips below 18,400 level; Asian markets fall, oil prices rise; IRCTC, BHEL, PNB in F&O ban list

Domestic stocks are likely to see a weak start to Friday's trade, as data showed US retail sales fell most in 11 months, missing estimates. Besides, the US labour market remained tight, other data showed, sending US stocks lower overnight. Asian markets were in the red in early trade; oil prices advanced. Here's what you should know before the Opening Bell: 

Nifty outlook

Nifty on Thursday formed a large bearish candle on the daily chart. The momentum indicator RSI (14) has confirmed bearish momentum with a negative crossover on the daily timeframe. The trend is to remain negative as long as the index remains below 18,500, said Rupak De of LKP Securities. On the lower end, the index support is placed at 18,350/18,100, De said.

SGX Nifty signals a weak start 

Nifty futures on the Singapore Exchange quoted 60 points, or 0.33 per cent, lower at 18,399.50, hinting at a weak start for the domestic market on Friday.

Asian markets fall in early trade

Asian markets were off to a weak start on Friday after data showed US retail sales fell more than expected in November while the labour market remained tight. Japan's Nikkei fell 1.6 per cent, China's Shanghai Composite declined 0.31 per cent,  Hong Kong's Hang Seng fell 0.8 per cent and Korea's Kospi declined 0.4 per cent.

Oil rises, poised to end the week higher

Oil prices rose in early Asian trade on Friday after falling 2 per cent in the previous session on central bank interest rates hikes, and is poised to end the week higher after a series of positive oil demand forecasts, Reuters reported. Brent crude futures rose 36 cents or 0.4 per cent to $81.57 per barrel. WTI futures rose 25 cents, or 0.3 per cent, to $76.36 per barrel. Both benchmarks are poised to end the week more than 7 per cent higher.

US stocks settle lower

US shares slumped on Thursday, while the US dollar gained and Treasury yields ticked down after major central banks hiked interest rates in their final policy decisions of the year. A day after the US Federal Reserve said it expected rates to stay higher for longer, US retail sales fell more than expected in November, while the labor market remained tight. Stocks fell sharply, with the Dow Jones Industrial Average slipping 2.25 per cent, the S&P500 index down 2.5 per cent, and the Nasdaq Composite off 3.2 per cent.

Corporate actions today

Friday would see shares of CL Educate, Star Housing Finance and Gloster going ex-bonus. Star Housing Finance would also go ex-stock split and so would Lancer Container Lines and S&T Corporation. Three other stocks namely RSWM, Thambbi Modern Spinning Mill, and Anjani Portland Cement would go ex-rights today.

Stocks in F&O ban

Shares of IRCTC, GNFC, BHEL, Delta Corp, Indiabulls Housing, and Punjab National Bank are banned in the F&O segment today. Derivative contracts in security are banned when it crosses 95 per cent of the market-wide position limit (MWPL). No new positions can be created in the derivative contracts of said security. This prohibition is lifted when the open interest in the stock drops below 80 per cent of the MWPL across exchanges.

FPIs sell shares worth Rs 711 crore

Provisional data available with NSE suggests FPIs were net sellers of domestic stocks to the tune of Rs 710.74 crore on Thursday. Domestic institutional investors (DIIs) were buyers of equities to the tune of Rs 260.92 crore.

Rupee falls 27 paise against dollar

The rupee declined 27 paise to close at 82.76 against the dollar on Thursday after the US Federal Reserve's interest rate hike and its hawkish stance dented investor sentiments. A massive sell-off in domestic equities and a strong greenback overseas also weighed on the local unit, forex traders said.

Also read: Sensex, Nifty tumble over 1% on US Fed’s hawkish tone; IT, banking shares top drags

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