A soft US inflation reading released on Thursday has lowered some concerns over likely aggressive rate hikes by the US Fed, while crude prices were stable on Friday morning, sending positive signals to the domestic investors.
Let’s check out what all might matter to Dalal Street on Friday:
Singapore trading sets stage for positive startNifty futures on the Singapore Stock Exchange were trading 50.50 point, or 0.47 per cent, higher at 10,782, indicating a positive start for the Nifty50.
Indostar Capital IPO subscribed 69% on Day 2The initial public offering of Indostar Capital Finance was subscribed 68.69 per cent on Thursday, the second day of the bidding process. Indostar Capital Finance is a non-banking finance company (NBFC) registered with the Reserve Bank of India as a systemically important non-deposit taking firm The public offer, which was launched on Wednesday, received a good demand, as the issue was subscribed 41 per cent on Day 1.
Key Q4 earnings todayAllahabad bank, Canara Bank, Sun TV, Tata Global Beverages, UCO BankNSE -0.79 %, Dena Bank, Gillette, Gujarat Gas, Havells India, Khadim, RelaxoNSE -1.71 % Foorwears and NDTVNSE -1.72 % would be among the companies scheduled to report their quarterly numbers during the day.
Let’s check out what all might matter to Dalal Street on Friday:
Singapore trading sets stage for positive startNifty futures on the Singapore Stock Exchange were trading 50.50 point, or 0.47 per cent, higher at 10,782, indicating a positive start for the Nifty50.
Nifty50 forms 'Dark Cloud Cover' on daily chart
Nifty50 formed a 'Dark Cloud Cover', a bearish candle pattern on the daily chart, but somehow managed to form higher high and higher low for the fourth session. Analysts believe a breach of the 10,780 level on a closing basis would be a pre-requisite for any further upside.
PC Jeweller to buy back shares worth Rs 424 crThe shares will be bought back at Rs 350 per unit, which is 67 per cent higher than the closing price of Rs 209 apiece on the BSE. Promoters will not participate in the buy-back process. The board has approved the buy-back of up to 1,21,14,286 fully paid-up equity shares of Rs 10 each. The buyback of 1.21 crore shares comprise 3.07 per cent of the total paid-up equity capital of the company, it added.
Nifty50 formed a 'Dark Cloud Cover', a bearish candle pattern on the daily chart, but somehow managed to form higher high and higher low for the fourth session. Analysts believe a breach of the 10,780 level on a closing basis would be a pre-requisite for any further upside.
Asian stocks rise on soft US inflation data
Oil prices near multi-year high
Oil prices on Friday held multi-year highs reached the previous session as looming US sanctions against major oil producer and OPEC-member Iran threatened to tip an already tight market into undersupply, Reuters reported. Brent crude futures, the international benchmark for oil prices, were at $77.47 per barrel, unchanged from their last close. Brent hit $78 a barrel, its highest since November 2014, the previous day.
Asian markets started on a firm footing and the dollar eased on Friday as softer-than-forecast US inflation data tempered expectations for faster Federal Reserve interest rate rises this year, Reuters reported. MSCI’s broadest index of Asia-Pacific shares outside Japan rose for a second straight session to near three-week highs.Japan’s Nikkei climbed 0.7 percent while South Korea’s KOSPI added 0.6 percent.
On Wall Street, the Dow rose 0.8 percent, the Nasdaq Composite gained 0.89 per cent and the S&P500 inde xrose 0.9 percent, surging past key resistance of 2,717 points.
On Wall Street, the Dow rose 0.8 percent, the Nasdaq Composite gained 0.89 per cent and the S&P500 inde xrose 0.9 percent, surging past key resistance of 2,717 points.
Oil prices near multi-year high
Oil prices on Friday held multi-year highs reached the previous session as looming US sanctions against major oil producer and OPEC-member Iran threatened to tip an already tight market into undersupply, Reuters reported. Brent crude futures, the international benchmark for oil prices, were at $77.47 per barrel, unchanged from their last close. Brent hit $78 a barrel, its highest since November 2014, the previous day.
PC Jeweller to buy back shares worth Rs 424 crThe shares will be bought back at Rs 350 per unit, which is 67 per cent higher than the closing price of Rs 209 apiece on the BSE. Promoters will not participate in the buy-back process. The board has approved the buy-back of up to 1,21,14,286 fully paid-up equity shares of Rs 10 each. The buyback of 1.21 crore shares comprise 3.07 per cent of the total paid-up equity capital of the company, it added.
Indostar Capital IPO subscribed 69% on Day 2The initial public offering of Indostar Capital Finance was subscribed 68.69 per cent on Thursday, the second day of the bidding process. Indostar Capital Finance is a non-banking finance company (NBFC) registered with the Reserve Bank of India as a systemically important non-deposit taking firm The public offer, which was launched on Wednesday, received a good demand, as the issue was subscribed 41 per cent on Day 1.
Key Q4 earnings todayAllahabad bank, Canara Bank, Sun TV, Tata Global Beverages, UCO BankNSE -0.79 %, Dena Bank, Gillette, Gujarat Gas, Havells India, Khadim, RelaxoNSE -1.71 % Foorwears and NDTVNSE -1.72 % would be among the companies scheduled to report their quarterly numbers during the day.
DIIs buy Rs 900 cr worth of equitiesForeign portfolio investors (FPIs) sold Rs 364.88 crore worth of domestic stocks on Thursday, provisional data available with BSE suggested. DIIs were net buyers to the tune of Rs 900 crore, data suggested.
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