Nifty remained volatile throughout Thursday’s session, with mostly a bearish bias, as it closed below the crucial short-term moving average (50 EMA), said an analyst. 
Nifty remained volatile throughout Thursday’s session, with mostly a bearish bias, as it closed below the crucial short-term moving average (50 EMA), said an analyst. Domestic stock indices are likely to open higher on Friday, tracking positive global cues. Asian stocks were trading mostly higher in early trade after the US inflation data. Back home, all eyes will be on Wipro Q3 earnings. Investors would also react to the quarterly earnings of Infosys and HCL Technologies. Here's what you should know before the opening bell:
Nifty outlook
Nifty remained volatile throughout the session with mostly a bearish bias as it closed below the crucial short-term moving average (50 EMA). The daily RSI is in bearish crossover on the daily timeframe, suggesting sluggish momentum, said Rupak De, Senior Technical Analyst at LKP Securities. "Over the short term, the trend is likely to remain sideways or negative. On the higher end, resistance is visible at 18000. On the lower end, support is visible at 17750," he said.
SGX Nifty signals a strong start
Nifty futures on the Singapore Exchange quoted 43 points, or 0.24 per cent up at 17,961, hinting at a positive start for the domestic market on Friday.
Asian shares trade higher
Asian stocks rose on Friday as investors cheered a slowdown in US inflation. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.8 per cent. Japan's Nikkei tanked 1.28 per cent, per cent; Australia's ASX 200 surged 0.85 per cent; New Zealand's DJ was up 0.79 per cent; Hong Kong's Hang Seng gained 0.32; Seoul's Kospi soared 0.71 per cent; and China's Shanghai added 0.40 per cent.
Oil price rise in early trade
Oil prices slipped in early trade on Friday, but were on track for gains of more than 6% for the week on solid signs of demand growth in top crude oil importer China and expectations of less aggressive interest rate hikes in the United States. Brent crude futures fell 17 cents, or 0.2 per cent, to $83.86, while US West Texas Intermediate (WTI) crude futures slipped 12 cents, or 0.2 per cent, to $78.27.
Dollar wobbles after inflation data
The US dollar swayed on Friday, flirting with seven-month lows after a sharp dive overnight as data showed US inflation was slowing, boosting hopes of the Federal Reserve taking its foot off an aggressive interest rate hike policy. The dollar index rose 0.06 per cent to 102.22. The euro was up 0.03 per cent to $1.0849. Sterling was last trading at $1.221, up 0.08 per cent on the day. The yen strengthened 0.12 per cent to 129.10 per dollar.
Wall Street settled higher
US stocks closed higher on Thursday, extending recent gains as data showing a fall in consumer prices in December bolstered expectations of less aggressive interest rate hikes from the Federal Reserve. Dow Jones Industrial Average index gained 216.96 points, or 0.64 per cent, to 34,189.97; S&P500 index added 13.56 points, or 0.34 per cent, at 3,983.17; and the Nasdaq Composite index rallied 69.43 points, or 0.64 per cent, to 11,001.10.
Q3 earnings today
Wipro, L&T Finance Holdings, Just Dial, Ganesh Housing Corporation, Choice International, Vishnu Chemicals, Heritage Foods, Rajnish Wellness and Raghav Productivity Enhancers are among the companies that will announce their results for the December 2022 quarter.
Stocks in F&O ban
Indiabulls Housing Finance and GNFC are the two stocks which will remain under F&O ban for Friday, January 13 by the National Stock Exchange (NSE). 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.
FPIs sell shares worth Rs 1,663 crore
Provisional data available with NSE suggests FPIs were net sellers of domestic stocks to the tune of Rs 1,662.63 crore on Thursday. Domestic institutional investors (DIIs) were buyers of equities to the tune of Rs 2,127.65 crore.
Rupee gains 13 paise
The rupee gained 38 paise to close at 81.30 against the US dollar on Thursday, tracking the overall weakness in the American currency. However, a muted trend in domestic equities and sustained foreign fund outflows capped the gains in the rupee.
Note: With inputs from PTI, Reuters and other agencies
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