MARKETS: Subdued start likely as global sentiment weakens; SGX Nifty falls


LIVE market updates: Amid weak global cues, the benchmark indices are likely to open on a muted note on Friday. The SGX futures were seen quoting 18,225 level, about 60 points lower than Nifty’s spot close on Thursday.

The market action is expected to be largely stock specific given the earnings season. IT major HCL Technology will be announcing its Q3 results.

On the macro-front, India will also be announcing WPI-based inflation data at noon today.

Further among stocks, HDFC Bank, Onward Technologies, Tinplate Company of India, and Metro Brands will be in focus ahead of December quarter earnings announcements on Friday and Saturday.

Global cues

The US fell on Thursday led by the tech-laced benchmark Nasdaq amid talks of a likely interest rate hike in March by Fed officials. The Dow Jones slipped 0.5 per cent. The S&P 500 shed 1.4 per cent, and Nasdaq dropped 2.5 per cent.

Meanwhile, oil prices cooled-off a wee bit on account of profit-taking following the recent sharp surge. Brent Crude was down 0.2 per cent at $84.47 a barrel, and WTI Crude slipped 0.6 per cent to $82.12 a barrel.

The major Asian were trading with significant losses this morning. Japan’s Nikkei had plunged 1.7 per cent, and Kospi too had slipped over a per cent. Hang Seng and Shanghai Composite had declined around a per cent each. Taiwan was down 0.6 per cent. Straits Times, however, had moved 0.5 per cent higher.

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