Sensex, Nifty Seen Tad Higher At Open

Trading in Singapore Nifty futures point to a positive open on Friday despite weak cues from global markets.

FIIs remained net sellers and offloaded shares worth Rs. 3,245.86 crore on Thursday, stock exchange data showed.

Benchmark indexes Sensex and Nifty rose around 0.6 percent each on Thursday to extend gains for a fifth day running despite weak cues from global markets.

The rupee fell by 9 paise to close at a record low of 83.22 against the dollar despite the RBI’s likely intervention.

Asian markets were moving lower this morning and the dollar and yields held firm, while gold was on track for a weekly decline on signs of a resilient U.S. economy.

Oil prices eased for a second day on demand concerns but were still headed for a second consecutive weekly gain.

U.S. stocks ended mostly lower overnight as fears grew over China’s iPhone curbs and initial jobless claims fell to their lowest level since February, raising worries about sticky inflation and interest rates.

The tech-heavy Nasdaq Composite shed 0.9 percent to extend losses for a fourth day running and the S&P 500 eased 0.3 percent while the Dow inched up 0.2 percent.

European stocks ended mixed on Thursday amid inflation and interest rate worries.

The pan European STOXX 600 slipped 0.1 percent to log its seventh consecutive negative session – marking the longest losing streak for the index since February 2018.

The German DAX slipped 0.1 percent, while France’s CAC 40 finished marginally higher and the U.K.’s FTSE 100 edged up 0.2 percent.