Key Things To Know Before Market Opens On Friday

The Indian equity benchmarks are likely to open higher on Friday as indicated by the Nifty Futures traded on the Singapore Exchange. The Nifty Futures of Singapore Exchange also known as SGX Nifty Futures rose 101 points or 0.65 per cent to 15,665.

Equity benchmark indices Sensex and Nifty bounced back on Thursday to close higher by nearly 1 per cent on gains in banking, IT and auto shares amid mixed global trends.

The 30-share BSE Sensex rose by 443.19 points or 0.86 per cent to settle at 52,265.72. During the day, it rallied 694.26 points or 1.33 per cent to 52,516.79.

Here are key things to know before market opens on Friday:

Asia Markets

Stocks and bonds were both headed for their first weekly gain in a month on Friday as investors wagered on central banks bringing inflation to heel, though growth fears dragged on commodities.

Japan's Nikkei rose 0.8 per cent, Hong Kong's Hang Seng climbed 1.2 per cent, South Korea's KOSPI advanced 2 per cent and Taiwan Weighted rose 1.4 per cent.

US Markets

Stocks shook off a midday slump and ended higher Thursday, keeping the market on track for its first weekly gain after three weeks of punishing losses.

The S&P 500 ended 1 per cent higher after having been down as much as 0.4 per cent. The Dow Jones Industrial Average rose 0.6 per cent and the Nasdaq gained 1.6 per cent.

Crude Oil and Gold Price Check

Benchmark U.S. crude oil for August delivery fell $1.92 to $104.27 a barrel Thursday. Brent crude for August delivery fell $1.69 to $110.05 a barrel.

Gold for August delivery fell $8.60 to $1,829.80 an ounce. Silver for July delivery fell 38 cents to $21.04 an ounce and July copper fell 20 cents to $3.74 a pound.

Foreign Flows

Foreign institutional investors sold shares worth Rs 2,319 crore on Tuesday while domestic institutional investors bought shares worth Rs 2,438 crore.

Rupee Check

The rupee on Thursday closed at its all-time low of 78.32 against the US dollar as strong American currency and persistent foreign fund outflows weighed on investor sentiments.

At the interbank foreign exchange market, the local currency opened higher at 78.26 and rose to the day's high of 78.22 due to weakness in the US dollar and crude oil in early trade.

Stocks In Focus

Hindustan Unilever: Describing the current macroeconomic situation as "probably the most difficult economic situation", HUL Chairman Nitin Paranjpe on Thursday said India will require some astute handling and a balancing act to make sure that growth does not stall, while inflation is contained, as the immediate future is challenging.

Responding to queries of shareholders in the annual general meeting (AGM), Paranjpe said global supply chain disruptions due to the pandemic and geopolitical tensions have had an impact on India as well.

Unitech: "Misappropriated" funds of homebuyers were used by the promoter brothers of realty group Unitech to "bribe" Tihar jail officials during their confinement there, the ED said on Thursday as it attached assets worth Rs 257 crore in a money-laundering case against them.

Hero MotoCorp: Two-wheeler maker Hero MotoCorp on Thursday said it will hike prices of motorcycles and scooters by up to Rs 3,000 from July 1 to partially offset the steadily growing overall cost inflation, including commodity prices.

In a regulatory filing, the company said, "The exact quantum of increase will be subject to the specific model and market".

ONGC: ONGC Videsh Ltd, the overseas investment arm of state-owned Oil and Natural Gas Corporation (ONGC), has made an oil discovery in a block in Colombia, the company said on Thursday.

The discovery was made in the recently drilled well, Urraca-1X, in CPO-5 block, Llanos Basin, Colombia, it said in a statement.