SGX Nifty sheds 97 points; Asian markets, oil prices, dollar index, Landmark Cars IPO listing & more

Domestic stocks are likely to see a weak start to Friday as data showing a less-than-expected rise in US unemployment claims raised fears of continued Fed rate hikes. Asian markets were trading lower while dollar and oil prices jumped in early trade.  Here's what you should know before the Opening Bell: 
 
Nifty outlook

Nifty on Thursday slipped below the 50-EMA on the daily timeframe. The level of 18,350 may act as critical resistance. The market may remain sell-on-rise as long as Nifty remains below this level, said Rupak De of LKP Securities. A decisive fall below 18,070 may trigger selling pressure in the market, he said.

SGX Nifty signals a weak start 

Nifty futures on the Singapore Exchange quoted 97 points, or 0.53 per cent, lower at 18,081, hinting at a weak start for the domestic market on Friday.

Asian markets fall in early trade

Asian stocks fell in Friday's session, tracking a slump in US stocks overnight. South Korea's Kospi tanked by 1.53 per cent, and Japan's Nikkei declined by 1.1 per cent. Hong Kong's Hang Seng slipped 0.26 per cent while China's Shanghai Composite edged 0.10 per cent lower.
 
Oil climbs on likely drop in Russian exports

Oil prices rose on Friday on expectations of lower Russian crude exports from the Baltic region in December, offsetting worries that a looming Arctic storm across the United States could snuff out transport fuel demand growth this holiday season. Brent crude rose 88 cents, or 1.1 per cent, to $81.86 a barrel, while US West Texas Intermediate crude was at $78.41 a barrel, up 92 cents, or 1.2 per cent higher.

US stocks settle lower

US stocks tanked on Thursday as solid economic data fuelled worries that the Federal Reserve's monetary policy will hover at restrictive levels for longer than many market participants may have hoped. Dow Jones Industrial Average index fell 348.99 points, or 1.05 per cent, to 33,027.49; S&P500 lost 56.05 points, or 1.45 per cent, to 3,822.39 and Nasdaq Composite dropped 233.25 points, or 2.18 per cent, to 10,476.12.

Dollar solidly bid on Fed view

The dollar was on the front foot on Friday, as solid US economic data reinforced the need for the Federal Reserve to stay on its aggressive monetary policy tightening path and further raised the odds of higher-for-longer rates. Against a basket of currencies, the US dollar index stood at 104.35.

Landmark Cars to make market debut today

Shares of Landmark Cars will make their market debut on Friday. The grey market premium (GMP) of the IPO stood at Rs (minus)15 today, implying a negative listing for the company engaged in the automotive retail business.  The stock of the Landmark Cars IPO is likely to be listed at Rs 491, according to the current GMP. The price band of the IPO was Rs 481 to Rs 506. The IPO was held from December 13 to December 15.

Stocks in F&O ban

Shares of Indiabulls Housing Finance are banned in the F&O segment today. Derivative contracts in a 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.

DIIs buy shares worth Rs 2,207 crore

Provisional data available with NSE suggests FPIs were net sellers of domestic stocks to the tune of Rs 928.63 crore on Thursday. Domestic institutional investors (DIIs) were buyers of equities to the tune of Rs 2,206.59 crore.
 
Rupee gains 6 paise against dollar

The rupee appreciated 8 paise to close at 82.76 against the US currency on Thursday following a weak greenback in overseas markets. Losses in domestic stocks and firm crude oil prices, however, restricted the rupee's gain, forex dealers said. The local currency opened higher at 82.78 at the interbank foreign exchange market after overnight losses in the greenback on improved risk sentiment.

Also read: Wall Street tumbles on rate hike fears, recession worries; Nasdaq down over 2%

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