The boom of the stock market is likely to get a break today. This means that the Sensex-Nifty flight may stop on Friday, the last trading day of the week. Because, after the weak trend in the American stock markets on Thursday, the Asian markets declined on Friday. At the same time, GIFT Nifty (Nifty Futures) was trading around 19,812 levels against the previous close of 19,835, indicating a negative start for Indian benchmark indices Sensex-Nifty.
If we talk about Asian markets, Japan’s Nikkei 225 is down 0.21 percent and Topix is down 0.11 percent. South Korea’s Kospi fell 0.55 percent, while the Kosdaq fell 0.71 percent. Hong Kong’s Hang Seng Index futures were trading at 17,654, down from HSI’s close of 17,832.82.
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The S&P 500 and Nasdaq closed mixed on Thursday, down 45.74 points, or 0.13 percent, at 34,945.47. The S&P rose 5.36 points, or 0.12 percent, to 4,508.24. The Nasdaq Composite rose 9.84 points, or 0.07 percent, to close at 14,113.67. On the other hand, Walmart shares fell 8.1 percent, a day after hitting a record high.
What are the other signals for the market today?
The number of Americans filing new claims for unemployment benefits hit a three-month high last week. The unemployment figure rose to 231,000 in the week ending November 11, the highest since August.
Oil prices at 4-month low: Crude oil prices fell nearly 5 percent to a four-month low on Thursday amid worries about global oil demand following weak data from the US and Asia. Brent futures fell 4.6 percent to $77.42 a barrel, while WTI fell 4.9 percent to $72.90.
Decline in US factory output: US factory output fell more than expected in October due to strikes at automakers and parts suppliers. Manufacturing output fell 0.7 percent last month, the most in four months, according to data from the Federal Reserve.
RBI tightens consumer loan rules: The central bank has raised the risk weight for lenders and non-bank financial companies on retail loans, or the capital set aside by banks for each loan, from 25 percent to 125 percent.