Indian Indices:
Indian markets are likely to open lower, tracking weakness in fellow Asian peers after Wall Street ended in red in overnight trade ahead of US job data. SGX Nifty is trading 55.00 points lower.
The Indian equity market was one of the worst performing ones among the emerging markets in November shedding 4.6pc in a month, which saw a sudden demonetization move of high value currency.
The first impact numbers were reflected in Nikkei India Manufacturing Purchasing Managers' Index (PMI), which dropped to 52.3 in Nov from a 22-month high of 54.4 in Oct. Shortages of currency notes hampered growth of new work, buying activity and production. Auto numbers were a mixed bag with Maruti Suzuki and Toyota clocking double digit growth, while Mahindra’s sales saw a drop
The Indian market's focus will be on the RBI move next week where a rate cut is on the anvil given the slowdown in the economy. The Italian referendum on Sunday will keep global markets anxious.
Global Market:
US indices closed mixed with Dow hitting a new high and Nasdaq falling due to deep cuts in semiconductor and biotechnology shares. Uncertainty in EMs is likely to continue in the near term given the possible Fed rate hike anticipated this month.
Japan's Nikkei (N225), which jumped to an 11-month high on Thursday, slipped 0.6 percent on Friday. It is set for a weekly gain of 0.1 percent.
Asian shares lost some of their recent gains on Friday, after lackluster sessions on Wall Street and Europe, while 10-year U.S. Treasury yields and crude futures pulled back from multi-month highs hit overnight.
European markets also had a lackluster session, with the STOXX 600 (STOXX) down 0.3 percent at the close after pulling back from the previous session's three-week high.
Major Headlines of the day:
Tata Motors: The company on Thursday reported sales of 38,900 units in November compared to 38,918 units in the same month last year.
TVS Motor Company: TVS Motors sales growth at 2,24,971 units in November compared with 2,25,401 units in the same month last year.
Vedanta: Vedanta is planning to invest Rs 15,000 to 20,000 crore over three years to expand its alumina and aluminium producing capacity.
Ujjivan Financial Services: The company on Thursday informed bourses that it has submitted an application on Thursday to the Reserve Bank of India, Regional Office, Bangalore for the registration of the company as core investment company.
Trend in FII flows: The FIIs were net buyers of Rs -402.62 Cr in the cash segment on Thursday while the DIIs were net sellers of Rs 237.81 Cr, as per the provisional figures.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
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