5 things you should know before market opens on Friday

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New Delhi | Updated: September 9, 2016 8:22:27 AM

SGX Nifty was trading 28.50 points down at 8948, indicating a weak start of domestic equity markets.

BSE Sensex, NSE NiftyAsian peers were trading mixed in the morning deals. (Reuters)

Domestic benchmark index BSE Sensex closed 118.92 points up at 29045.28 on Thursday on account of buying in auto and realty sectors, while IT stocks took a heavy beating following TCS’ outlook warning. The index closed above 29,000-level for the first time in 17 months. Nifty index settled 34.55 points up at 8952.50. Market sentiment got a boost after domestic passenger
vehicle sales grew for a 14th straight month in August with a 16.68 per cent increase, triggering buying activity in select auto sector stocks.

Below are 5 things you should know before the market opens on Friday:

1) SGX Nifty was trading 28.50 points down at 8948, indicating a weak start of domestic equity markets.

2) Asian peers were trading mixed in the morning deals. Hang Seng was trading higher by 0.46 per cent, while Nikkei and Shanghai were down by 0.23 per cent and 0.16 per cent, respectively.

3) Shares of Jindal Steel and Power will remain in focus on Friday after the company announced that its consolidated net loss doubled to Rs 1,082.15 crore for the June quarter on account of decline in demand as well as higher fuel and finance costs. It had registered a net loss of Rs 542.42 crore in the same quarter a year-ago.

YES Bank will also remain in news as the lender has deferred its plans to raise $1 billion, citing extreme volatility in trading due to misinterpretation of new QIP guidelines.

4) On Wall Street, the S&P 500 index slipped 4.86 per cent, weighed by a 2.6 per cent decline in Apple shares on disappointment over its latest iPhone, though gains in energy shares offset losses in most other sectors. Dow Jones Industrial Average Index closed 0.25 per cent up at 18,479.91.

5) Market Outlook: Milan Vaishnav, CMT, Consultant Technical Analyst, Gemstone Equity Research & Advisory said, “We believe domestic equity markets will continue to consolidate while the IT pack may see some technical rebound either on Friday or in coming sessions.

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