The Indian equity benchmarks are set to open higher on Friday as indicated by the Nifty Futures traded on the Singapore Exchange. The Nifty Futures on Singapore Exchange also known as SGX Nifty Futures rose 43 points or 0.27 per cent to 15,976.
Benchmark indices Sensex and Nifty gave up early gains to close lower for a fourth straight session on Thursday due to selling in IT and banking shares amid weak global equities.
The 30-share BSE benchmark settled 98 points or 0.18 per cent lower at 53,416.15. During the day, it hit a high of 53,861.28 and a low of 53,163.77.
The broader NSE Nifty also pared initial gains and ended 28 points or 0.18 per cent down to settle at 15,938.65.
Here are key things to know before market opens on Friday:
Asia Markets
Most of the Asian markets were trading higher. Japan's Nikkei rose 0.51 per cent, Hong Kong's Hang Seng fell 0.69 per cent, South Korea's KOSPI rose 0.03 per cent and Taiwan Weighted rose 0.04 per cent.
US Markets
Stocks closed broadly lower on Wall Street Thursday as JPMorgan Chase opened the latest round of corporate earnings for big banks with weak results and a warning about the economy.
Wall Street is also assessing the latest government reports showing that inflation remains hot and shows no signs of cooling, even as central banks try to loosen its grip on businesses and consumers by hiking interest rates.
The S&P 500 fell 11.40 points, or 0.3 per cent, to 3,790.38. Nearly three out of every four stocks in the benchmark index finished in the red. The Dow Jones Industrial Average fell 142.62 points, or 0.5 per cent, to 30,630.17. The Nasdaq rose 3.60 points, or less than 0.1 per cent, to 11,251.19.
Banks had some of the biggest losses and weighed heavily on the market. JPMorgan Chase fell 3.5 per cent after reporting a sharp drop in earnings for its latest quarter, falling short of forecasts. CEO Jamie Dimon stuck by his warning earlier this summer that a “hurricane” may be headed for the economy.
Crude Oil and Gold Price Check
Benchmark U.S. crude oil for August delivery fell 52 cents to $95.78. a barrel Thursday. Brent crude for September delivery fell 47 cents to $99.10 a barrel.
Gold for August delivery fell $29.70 to $1,705.80 an ounce. Silver for September delivery fell 96 cents to $18.23 an ounce and September copper fell 11 cents to $3.21 a pound.
The dollar rose to 138.87 Japanese yen from 137.32 yen. The euro fell to $1.0032 from $1.0062.
Foreign Flows
Foreign institutional investors on Thursday bought shares worth Rs 309 crore while domestic institutional investors sold shares worth Rs 556 crore.
Rupee Check
The rupee edged closer to the historic low of 80-mark against the US currency on Thursday as it declined by a little over 18 paise to settle at 79.9975 amid a stronger greenback in overseas markets.
While wholesale inflation remained double-digit for 15 straight months to June, expected deterioration in the country's current account deficit and forex outflows dragged the local unit near to the psychological low level of 80 against the greenback.
A sharp correction in crude oil prices in the past few days, however, has been a breather for the local currency, analysts said.
Adani Ports: Adani group Chairman Gautam Adani on Thursday said the group has won the tender for privatization of a port in Israel in partnership with Gadot.
"Delighted to win the tender for privatisation of Port of Haifa in Israel with our partner Gadot. Immense strategic and historical significance for both nations,” Adani said in a tweet.
Dabur: FMCG major Dabur India Ltd has four brands in its kitty having a turnover of Rs 1,000 crore and above, according to the company's annual report.
Its two brands -- Dabur Honey and Dabur Chyawanprash - have over Rs 500 crore in sales.
"At the end of fiscal 2021-22, we had 12 brands above Rs 100 crore in size, two brands over Rs 500 crore in size and another four brands that have a turnover above Rs 1,000 crore," Dabur India said in its annual report.
Tata Steel Long Products: Tata Steel Long Products Limited (TSLP) on Thursday posted a net loss of Rs 331.09 crore in the June quarter, mainly on account of higher expenses.
The company had a profit of Rs 331.60 in the year-ago period.
Its total income, however, rose to Rs 2,154.78 crore from Rs 1,726.82 crore in the quarter ended June 2021.
The company saw its expenses rise to Rs 2,489.58 crore from Rs 1,282.59 crore in the same period a year ago.
LIC: Life Insurance Corporation of India (LIC) on Thursday reported the Indian Embedded Value (IEV) at Rs 5,41,492 crore as of March 31, 2022, as compared to Rs 95,605 crore as of March 31, 2021.
The Embedded Value (EV) is a measure of the consolidated value of shareholders' interest in the life insurance business.
It represents the present value of shareholders' interests in the earnings distributable from the assets allocated to the business after sufficient allowance for the aggregate risks in the business.
ACC: Cement maker ACC Ltd on Thursday reported a 60.07 per cent decline in consolidated net profit at Rs 227.35 crore in June 2022 quarter, due to rise in fuel costs and related inflationary impacts.
The company, which follows January-December financial year, posted a profit of Rs 569.45 crore in April-June 2021, ACC said in a BSE filing.
Its total revenue from operations during the quarter under review was at Rs 4,468.42 crore, up 15.01 per cent, as against Rs 3,884.94 crore in the corresponding period a year ago.
