SGX Nifty down 89 points: Asian markets, dollar movement, Q3 earnings, FPI flows & more

Domestic stock indices look set to open on a weak note on Friday, tracking global cues. US stocks settled sharply lower overnight while  most Asian markets opened lower. Back home, Adani Group stocks will be in focus after MSCI cut free-float designations of three Adani group companies. Here's what you should know before the opening bell:

Nifty outlook
"The Nifty witnessed range bound price action throughout the day and closed with marginal gains for the day. On the hourly charts we can observe that zone of 17,790-1,7820 where the key hourly moving averages are placed acted as a strong support zone and intraday the nifty witnessed a sharp pullback from that support zone," said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas

"On the way up, the Nifty has managed to close above the 20 day moving average which is a sign of strength. The daily momentum indicator has a positive crossover which is a  buy signal. Thus, both price and momentum indicators are suggesting further upside in the Index. On the upside the zone of 17,972-18,000 is an immediate hurdle zone and once it is crossed we can have a sharp upside," he said.

SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange quoted 89 points, or 0.50 per cent, lower at 17,841.50, hinting at a negative start for the domestic market on Friday.

Asian shares open lower
Asian shares open lower at the opening on Friday tracking the fall at the Wall Street amid concerns about the economy. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.61 per cent. Japan's Nikkei jumped 0.62 per cent; Australia's ASX 200 declined 0.69 per cent; New Zealand's DJ was down 0.11 per cent; China's Shanghai shed 0.04 per cent; Hong Kong's Hang Seng  declined 0.75 per cent; and Seoul's Kospi tanked 0.49 per cent.

Oil prices fall in early trade
Oil prices fell in early trade on Friday but were headed for a weekly gain with the market continuing to seesaw between fears of a recession hitting the United States and hopes for strong fuel demand recovery in China, the world's top oil importer. Brent crude futures fell 28 cents, or 0.3 per cent, to $84.22 a barrel, while US West Texas Intermediate (WTI) crude futures fell 35 cents, or 0.5 per cent, to $77.71.

Dollar index stays above 103 level

The dollar was on the back foot on Friday after an overnight slide as investors tread with caution ahead of US inflation data next week, with worries over an economic slowdown and the pace of the Federal Reserve's rate hikes hitting sentiment. The dollar index was at 103.21. The Japanese yen weakened 0.12 per cent to 131.74 per dollar. The euro was down 0.07 per cent to $1.0729., while the sterling was last trading at $1.2114, off 0.07 per cent on the day.

US stocks settle lower
US stock indexes ended lower on Thursday, erasing earlier gains as Treasury yields rose after an auction of 30-year bonds went poorly and overshadowed strong earnings from corporate giants like Disney and PepsiCo. The Dow Jones Industrial Average fell 249.13 points on Thursday, or 0.73 per cent, to 33,699.88, the S&P 500 lost 36.36 points, or 0.88 per cent, to 4,081.5 and the Nasdaq Composite dropped 120.94 points, or 1.02 per cent, to 11,789.58.

Q3 earnings today
Mahindra & Mahindra, Power Grid, ABB India, Info Edge, Abbott India, Alkem Laboratories, Bharat Heavy Electricals, Oil India, Delhivery, PB Fintech, Fortis Healthcare, Rail Vikas Nigam, National Aluminium, Glenmark Pharmaceuticals, EIH, JK Lakshmi Cement, AstraZeneca Pharma India, Archean Chemical Industries, Metropolis Healthcare and Cochin Shipyard are among the companies that will announce their Q3 earnings today.

Stocks in F&O ban
Ambuja Cements and Indiabulls Housing Finance are the two stocks which have been put under F&O ban by National Stock Exchange (NSE) for Friday, February 10. 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 145 crore
Provisional data available with NSE suggests FPIs turned net sellers of domestic stocks to the tune of Rs 144.73 crore on Thursday. However, domestic institutional investors (DIIs) also turned to sellers of equities to the tune of Rs 205.25 crore.

Rupee gains 3 paise against dollar
The rupee pared initial losses and settled 3 paise higher at 82.51 against the US dollar on Thursday, supported by a weak greenback and a rebound in domestic equities. At the interbank foreign exchange market, the local unit opened at 82.59 against the American currency and touched a low of 82.66 and a high of 82.48 intra-day.

Note: With inputs from PTI, Reuters and other agencies
 
Also read: Paytm shares gain for fourth straight session. What's driving the rally?

Also read: KPIT Tech, Bharat Electronics & 13 other stocks to go ex-dividend; M&M, BHEL, PB Fintech Q3 results today