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What changed your markets while you were sleeping 

A likely flareup of Sino-US trade tensions, a record low for the rupee, weakness in global stock markets and negative reading on technical charts may keep domestic stocks voaltile ahead of Q1 GDP numbers scheduled for release later in the day. 

Let's check out what all might matter to Dalal Street on Friday: 

Singapore trading sets stage for negative start
Nifty futures on the Singapore Exchange were trading 12 points, 0.10 per cent, lower at 11,724,  indicating a negative start for the Nifty50. 


 Tech view: Nifty forms bearish candle 

 
 The Nifty50 ended August F&O series flat at 11,676 on Thursday. The index formed a 'Hammer' candle on the daily chart, suggesting that the bulls managed to fight back and recovered some ground in the end. This was the second day of lower-high lower-low formations for the index, warranting caution. A fall below the 11,590-20 range on a closing basis may confirm a short-term trend reversal, analysts said. 

 August F&O rollovers at 81%
The market-wide rollovers stood at 81 per cent, which were higher than the average rollovers of 80 per cent seen in the last three F&O series. Nifty futures rollover stood at 68 per cent, which were higher compared to the average rollovers of 67 per cent in the last three series.

 Q1 GDP data today
Brokerage ICICI Securities expects expect GVA growth to have moderated to 7.2 per cent YoY from 7.6 per cent YoY in Q4 FY2018, led by slowdown in momentum for agriculture and industry. It expects services sector to clock a marginal sequential improvement. 

"GDP growth is expected to print at 7.5 per cent YoY in Q1, decelerating on a sequential basis, but sharply higher than the 5.6 epr cent YoY growth seen in Q1 FY2018," it said. 

 Asian shares edge lower
Asian shares came under renewed pressure on Friday after reports US President Donald Trump was preparing to step up a trade war with Beijing and ready to impose more tariffs on Chinese imports, Reuters reported. MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.2 per cent in early trade while Japan's Nikkei dropped 0.8 per cent. 

Oil prices inch lower
Oil prices slipped slightly after hitting their highest levels in more than a month the previous day on growing evidence of disruptions to crude supply from Iran and Venezuela and after a fall in US inventories, Reuters reported. Brent crude oil futures dropped 0.3 per cent to $77.51 a barrel from Thursday’s settlement at $77.77.


US stocks end lower
US stocks ended their four-day winning streak on Thursday as investors sold risk ahead of the long holiday weekend, Reuters reported. The Dow Jones Industrial Average index fell 115.48 points, or 0.44 per cent, to 26,009.09, the S&P500 index lost 9.58 points, or 0.33 per cent, to 2,904.46 and the Nasdaq Composite index dropped 5.25 points, or 0.06 per cent, to 8,104.44. 

 

Rupee hits record low 
The rupee touched a record low at 70.86 to the dollar on Thursday amid strong monthend demand for the US currency in both onshore and offshore markets. It closed 0.20% lower at 70.74 versus 70.59 on Wednesday. The unit has already lost about 10% this calendar year, and counts among the worst performing emerging market currencies. 

Oil prices to soar more: IEA Chief
Petrol and diesel prices, already hovering near record levels, are poised to soar further, according to the head of the International Energy Agency who sees robust global demand rapidly outpacing dwindling supply. 
 

Kochhar to stay on ISec board
ICICI Bank, which holds 80 per cent stake in ICICI Securities, voted in favour of Chanda Kochhar to stay on the board of ICICI Securities despite opposition from some proxy advisory firms. Kochhar, the bank’s CEO, was sent on leave on June 19, pending a probe against her. 

DIIs sell Rs 1,599 cr worth of equities 
Foreign portfolio investors (FPIs) bought Rs 958 crore worth of domestic stocks on Thursday, provisional data available with BSE suggested. DIIs were net sellers to the tune of Rs 1,598.67 crore, data suggested. 


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