The BSE Sensex and NSE Nifty are likely to open in red on Friday tracking SGX Nifty and bleak global markets.(Express Photo by Surbhi Gloria)
The BSE Sensex and NSE Nifty are likely to open in red on Friday tracking SGX Nifty and bleak global markets.
At 8.27 am, SGX Nifty was down 52.50 points, or 0.67 per cent, at 7,807.50.
Asian shares took their cue from Wall Street and slipped on Friday, but were still on track for gains in a week marked by a depreciating yuan in China and the first US interest rate hike in nearly a decade. Hang Seng and Nikkei were down 28 per cent and 0.24 per cent, respectively. Shanghai was up 0.24 per cent.
Wall Street dropped on Thursday as crude oil futures continued to wallow at multi-year lows against a backdrop of oversupply as well as a stronger dollar following the US Federal Reserve’s widely anticipated tightening on Wednesday.
Back home, taking the US Fed rate hike as a sign of confidence, the benchmark Sensex on Thursday climbed for the fourth straight day as it closed over 309 points up at 25,803.78 — its biggest single-day gain in about a month.
The 50-share NSE Nifty recaptured the 7,800-mark by surging 93.45 points, or 1.21 per cent, at 7,844.35.
Maruti Suzuki will remain in focus on Friday as the car maker on Thursday post market hours announced receipt of approval from its minority shareholders to let its Japanese parent Suzuki invest and own upcoming plant in Gujarat, where a total investment of Rs 18,500 crore has been envisaged in the long term.
TAKE Solutions will also remain in focus as the IT firm on Thursday said the recent floods in Chennai will impact its revenue and margins for the quarter ended December 31, 2015.
(With inputs from PTI)
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