The BSE Sensex and NSE Nifty are likely to open in red on Friday tracking SGX Nifty and weak global markets. (Express Photo)
The BSE Sensex and NSE Nifty are likely to open in red on Friday tracking SGX Nifty and weak global markets.
At 8.16 am (IST), SGX Nifty was down 37 points, or 0.48 per cent, at 7,774.50.
Asian shares looked vulnerable on Friday after commodity prices plunged to multi-year lows on worries that softer global growth may exacerbate the supply glut, while US Federal Reserve officials kept beating the drum for a rate hike next month.
Hang Seng, Nikkei and Shanghai were down 2.21 per cent, 0.92 per cent and 1.40 per cent, respectively.
Wall Street suffered its worst session in over a month on Thursday as lower commodity prices weighed on energy and materials stocks and comments by a Federal Reserve policymaker hinted at an approaching interest-rate hike.
Back home, metal and oil & gas stocks are likely to be under pressure on Friday due to fall in global commodity prices.
Companies such as Kaveri Seed, BGR Energy, Shipping Corporation, Wockhardt, CESC, Hindustan Dorr-Oliver, GMR Infra, EID Parry, IVRCL, J&K Bank, Jindal Saw, Mcnally Bharat Eng, MMTC and Nectar Lifescience may announce their results on Friday.
The first trading session of Samvat year 2072 ended on a positive note on Wednesday with the benchmark BSE Sensex rising 124 points and the NSE Nifty regaining the 7,800-mark, snapping a five-day long losing streak. In special Muhurat one-hour trading session, the Sensex recovered by 123.69 points, or 0.48 per cent, to close at 25,866.95. Intra-day, the gauge hit session’s high of 25,944.93 and a low of 25,853.42. The gauge had lost 847.33 points in the past five sessions.
On similar lines, the broad-based National Stock Exchange index Nifty regained the psychological 7,800-mark by rising 41.65 points, or 0.54 per cent, to end at 7,825 after touching the session’s high of 7,847.95 and a low of 7,819.10.
(With inputs from agencies)
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