Markets likely to be cautious ahead of US jobs data

Indian Indices:

Indian markets are likely to witness a gap down opening on Friday tracking a lackluster global trend as investors resort to a cautious approach ahead of the much anticipated US jobs data for August to be released today. SGX Nifty is trading 20.00 points lower.

Indian shares edged lower on Thursday, reversing recent gains as telecom stocks such as Bharti Airtel slumped after RIL said it would roll out a fourth-generation network with free voice calls and rock-bottom data prices. The S&P BSE Sensex and CNX Nifty slipped 0.10%-0.13% each.

On Thursday (September 01, 2016), BSE SENSEX closed at 28423.48, fell by 28.69 points or by 0.10%, and the NSE Nifty ended at 8774.65, slipped by 11.55 points or by 0.13%.

Global Market:

Asian markets were mixed on Friday, following a flat finish stateside, as traders likely huddled on the sidelines before the key U.S. nonfarm payroll report due later in the global day.

U.S. stocks finished mostly higher on Thursday, recovering from earlier losses, as investors braced for the much-anticipated August jobs report on Friday, which could set the stage for a near-term interest-rate increase by the Federal Reserve.

European shares closed flat on Thursday, weighed down by pharma and oil stocks, while banks extended a recent rally which was fuelled by expectations of monetary tightening in the United States.

Major Headlines of the day:

GE Capital sells commercial finance business in India

CCI slaps Rs 6,700-crore fine on 11 cement firms

ZEE sells Ten Sports to Sony for $385 mn

   

Trend in FII flows:The FIIs were net sellers of Rs -301.51 Cr in the cash segment on Thursday while the DIIs were net buyers of Rs 308.16 Cr, as per the provisional figures.

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