Indian indices may witness a flat to positive start on Friday amid mixed global cues.
Trends on SGX Nifty indicate a gap-up opening for the broader index in India, with a gain of 212.50 points or 1.35 per cent. The Nifty futures were trading around 15,997.50 level on the Singaporean Exchange at 7:35 IST.
The Wall Street failed to sustain a late rally in overnight session as investors dumped stocks on fears of sluggish growth bought safe-haven assets.
Asian stocks opened higher on Friday as shares rose in Japan, South Korea, Hong Kong, Shanghai, and Australia in early trade on Friday.
Oil prices steady
Oil prices were little changed on Friday as worries about weaker economic growth offset expectations that crude demand could rebound in China as Shanghai lifts some coronavirus lockdowns.
Brent futures for July delivery fell 36 cents, or 0.3%, to $111.68 a barrel by 0015 GMT, while U.S. West Texas Intermediate (WTI) crude fell 36 cents, or 0.3%, to $111.85 on its last day as the front-month.
Stocks to watch on Friday
Godrej Consumer, HPCL, Ashok Leyland, Bosch, Infosys, ICICI Bank, HDFC, and HCL Technologies, MIndTree, Ambuja Cement
Asian stocks opened higher on Friday as MSCI's index of Asia-Pacific shares outside Japan was up by 1.32 per cent. Japan's Nikkei gained 1.01 per cent. Australia's ASX 200 climbed 1.23 per cent. South Korea's Kospi jumped 1.52%. China's Shanghai added 0.98%while Hong Kong's Hang Seng rallied 2.31%.
US stocks ends lower
US Stocks settled lower, with Cisco Systems slumping after giving a dismal outlook, while investors fretted about inflation and rising interest rates. Dow Jones dropped 0.75% to 31,253.13. S&P500 declined 0.58% to 3,900.79. Nasdaq fell 0.26% to 11,388.50.
Market on Thursday
Markets witnessed a free-fall on Thursday (May 19) on the back of weak global markets. After a gap-down start, the benchmark indices remained in negative terrain throughout the session, finishing near the day's low point.
At close, the Sensex was down 1,416.30 points or 2.61% at 52,792.23, and the Nifty was down 430.90 points or 2.65% at 15,809.40.
Rupee on Thursday
The rupee extended its losses and slumped 10 paise to close at a record low of 77.72 (provisional) against the US dollar on Thursday, weighed down by a negative trend in domestic equities and unabated foreign fund outflows. At the interbank foreign exchange market, the rupee opened lower at 77.72 against the greenback, and finally settled for the day at 77.72, down 10 paise over its previous close.