The BSE Sensex and NSE Nifty are likely to open flat with negative bias on Friday tracking SGX Nifty and Asian markets. (Photo: Reuters)
The BSE Sensex and NSE Nifty are likely to open flat with negative bias on Friday tracking SGX Nifty and Asian markets.
At 8.29 am (IST), SGX Nifty was marginally down 9 points, or 0.12 per cent, at 7,690.
Asian shares slumped on Friday, on track for a weekly loss as plunging crude prices heightened fears about receding global growth, while China’s yuan hit its weakest level in more than four years.
A supply glut in oil markets and cooling growth in China, the world’s biggest commodities consumer, have pressured many asset markets ahead of a widely expected hike to US interest rates by the Federal Reserve next week.
Back home, domestic shares rebounded from an oversold position on Thursday to rise for the first time in seven days as the benchmark BSE Sensex perked up by more than 216 points on value-buying in recently beaten-down commodity stocks, led by Reliance Industries, Hindalco and Tata Steel.
Shares of Maruti Suzuki will remain in focus on Friday as the nation’s biggest carmaker by sales, plans to raise prices of its cars by up to Rs 20,000, starting January 1, to offset cost increases and unfavourable foreign exchange rates, a company spokesman said on Thursday.
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