The BSE Sensex and NSE Nifty are likely to open in red tracking SGX Nifty and global markets. (Photo: PTI)
The BSE Sensex and NSE Nifty are likely to open in red on Friday tracking SGX Nifty and global markets.
At 8.24 am (IST), SGX Nifty was down 16 points, or 0.20 per cent, at 7,840.
Hang Seng and Nikkei slipped on Friday morning after US stocks declined and the dollar the dollar took a breather on Friday after stepping back from seven-month highs as investors grappled with the prospects of higher US borrowing costs and slower global economic growth.
The Baltic Index, which tracks rates for ships carrying dry bulk commodities and is viewed as a good reflection of the health of world trade, also fell to a record low, having fallen 58.8 per cent from its peak this year.
The US markets made a modestly lower closing in last session, the trade remained lackluster digesting the latest batch of US economic news, while there was modest drop in initial jobless claims, there was slightly bigger than expected increase in the index of leading economic indicators of Conference Board.
The Dow Jones industrial average on Thursday also fell 4.41 points, or 0.02 per cent, to 17,732.75. The Standard & Poor’s 500 index slipped 2.34 points, or 0.1 per cent, to 2,081.24. The Nasdaq composite lost 1.56 points, or 0.03 per cent, to 5,073.64.
Back home, the benchmark BSE Sensex on Thursday gained 359 points — its biggest single-day gain in nearly seven weeks — tracking strong Asian markets on expectations that the US Fed would proceed with caution on more tightening.
The 30-share Sensex ended up by 359.40 points, or 1.41 per cent, at 25,841.92 — its biggest single-day gain since October 5. The broad-based NSE Nifty reclaimed the 7,800-level before settling at 7,842.75, up 110.95 points, or 1.43 per cent.
(With inputs from agencies)
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