Indian shares are set for a tepid start on Friday, taking cues from the Asian market which were flat in early trade following a fall on Wall Street. At 07:10 AM, the SGX Nifty, an early indicator of the Nifty 50’s trend in India, was down 0.15 percent at 10,797.50, indicating a muted start for the Sensex and the Nifty.
1. Asia: Early in the Asian trading day, MSCI’s broadest index of Asia-Pacific shares outside Japan was up less than 0.1 percent. Australian shares gained 0.5 percent and Japan’s Nikkei stock index was 0.3 percent lower.
2. US: The Dow Jones Industrial Average fell 103.81 points, or 0.4 percent, to 25,850.63, the S&P 500 lost 9.82 points, or 0.35 percent, to 2,774.88 and the Nasdaq Composite dropped 29.36 points, or 0.39 percent, to 7,459.71. The S&P 500 snapped a three-day streak of gains, Reuters reported.
3. Markets At Close On Thursday: Indian shares ended higher for the second straight session with broader Nifty50 reclaiming 10,800 in intra-day deals. The benchmark indices, Sensex and Nifty advanced 0.4-0.5 percent to close the session at 35,898 and 10,790 respectively. Gains were majorly led by ICICI Bank, Reliance, HDFC and L&T, meanwhile, Infosys, Maruti Suzuki and Bharti Infratel dragged.
4. US West Texas Intermediate (WTI) crude oil futures were at $56.85 per barrel at 0010 GMT, down 11 cents, or 0.2 percent, from their last settlement, Reuters said. International Brent crude futures had yet to trade.
5. Rupee: The rupee closed at 71.25, down by 14 paise against the dollar on Thursday.
6. Dollar: The US dollar was barely changed against the yen at 110.66, while the euro inched slightly higher to buy $1.1340. The dollar index, which tracks the greenback against a basket of six major rivals, was steady at 96.586.
7. FIIs & DIIs: Foreign institutional investors (FIIs) bought shares worth Rs 55 crore on a net basis, while domestic institutional investors (DIIs) bought shares worth Rs 202 crore on February 21.
8. EPFO Interest Rates: etirement fund body Employees’ Provident Fund Organisation (EPFO) on Thursday announced an increase in interest rate to 8.65 percent from 8.55 percent on PF deposits for 2018-19, to its 6 crore subscribers. The EPFO had provided a five-year low rate of interest of 8.55 percent to its subscribers for 2017-18.
9. RBI On Lending Rates: Reserve Bank governor Shaktikanta Das on Thursday met bankers and discussed the delay in policy rates cuts to lending rates reductions.
The heads of Punjab National Bank, Bank of Baroda, Bank of India, Bank of India, ICICI Bank, Kotak Mahindra Bank and IDFC First Bank, among others attended the meeting, according to sources.
10. RBI MPC Minutes: India needs to take steps to boost economic growth as the inflation outlook remains low, the Reserve Bank of India’s monetary policy committee (MPC) said in minutes released on Thursday. Most of the six-member MPC were in favour of spurring growth in Asia’s third-largest economy amid a soft inflation outlook on a sustained fall in food prices, the minutes of the February monetary policy meeting showed.