SGX Nifty sheds 46 points: Asian markets, crude oil prices, dollar movement, corporate actions & more

Domestic stocks are likely to open on a muted note on Friday amid a lack of directional cues, as US markets were shut overnight on account of Thanksgiving Day. Asian markets were trading marginally lower on Friday morning while crude oil prices and the dollar index edged higher.  Here's what you should know before the Opening Bell:  

Nifty outlook

Nifty's daily momentum indicator RSI remains in a positive crossover. The trend looks positive as long as the index sustains above 18,350, said Rupak De of LKP Securities. On the higher end, resistance is visible at 18,650, he said adding that a breach of the level will push Nifty higher. 

SGX Nifty signals a weak start 

Nifty futures on the Singapore Exchange quoted 46 points, or 0.25 per cent, lower at 18,622 hinting at a weak start for the domestic market on Friday. 

Asian markets fall in early trade

Asian markets declined marginally on Friday morning amid concerns over rising Covid cases in China and inflation in Japan. Japan's Nikkei declined 0.20 per cent, China's Shanghai Composite fell 0.13 per cent, Hong Kong's Hang Seng was down 1.27 per cent and Korea's Kospi declined 0.09 per cent. 

US stocks shut for Thanksgiving Day

Key US indices were shut on Thursday on account of Thanksgiving Day. The indices had settled higher on Wednesday after the Federal Reserve's November meeting minutes suggest the pace of interest rate hikes may slow soon. Dow Jones index rose 95.96 points, or 0.28 per cent, to close at 34,194.06 on Wednesday. S&P500 index gained 23.68 points, or 0.59 per cent, to 4,027.26. Nasdaq Composite index jumped 110.91 points, or 0.99 per cent, to 11,285.32.

Oil prices edge higher

Oil prices advanced on Friday morning, trimming some of the week's losses.  Brent crude futures rose 13 cents, or 0.2 per cent, to trade at $85.47 a barrel. US West Texas Intermediate (WTI) crude futures added 35 cents, or 0.5 per cent, to $78.32 a barrel. There was no WTI settlement on Thursday due to the US Thanksgiving holiday, Reuters reported. 

Corporate actions today

Friday will see at least three stocks Maharashtra Seamless, Commercial Syn Bags and Veer Energy going ex-bonus, five stocks Abans Enterprises, Premco Global, Golechha Global Finance, NILE and Manaksia going ex-dividend and two stocks Dev Information Technology and Mafatlal Industries going ex-split today. Two stocks Roni Households and SMC Credits will also go ex-rights today. 

Stocks in F&O ban

No security is banned in the F&O segment today. Derivative contract in a security is 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 buy shares worth Rs 1,232 crore

Provisional data available with NSE suggests FPIs were net buyers of domestic stocks to the tune of Rs 1,231.98 crore on Thursday. Domestic institutional investors (DIIs) were sellers of equities to the tune of Rs 235.66 crore.

Rupee rises 23 paise against dollar

The rupee appreciated 23 paise to close at 81.70 against the dollar on Thursday as a weak greenback in the overseas market and a rally in domestic equities boosted investor sentiment. Forex traders said the dollar fell in international trade post the weak US data and dovish Fed minutes. The local unit hit an intra-day high of 81.60 and a low of 81.77 during the day.

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