SGX Nifty down 30 points; 5 things to know before going into trade on Friday

Indian share markets look to trade on a subdued note on Friday, with Nifty futures slipping 29 points to 11,635 on Singaporean Exchange. Asian peers were also seen trading with losses in the early trade today, despite a strong close for the US stocks in overnight trade on Wall Street after a significant sell-off in the previous session. On the domestic front, all eyes will be glued to the July-September quarter earnings by the index heavyweight Reliance Industries Ltd (RIL), which will be announced later in the day today. Besides, India reported a daily jump of 49,281 Covid-19 cases on Thursday. While the national capital recorded over 5,700 fresh COVID-19 cases on Thursday, the highest single-day spike till date. On Thursday, the 5,739 fresh cases came out of the 60,124 tests conducted the previous day.

Global watch: Asian stock markets were trading lower in the early trade on Friday, even as US stocks ended higher in overnight trade. Japan’s Nikkei 225 slipped 0.74 per cent while the Topix index fell 1.23 per cent. South Korea’s Kospi also dipped 0.72 per cent. However, US stocks closed higher. The Dow Jones Industrial Average rose 0.52 per cent, the S&P 500 1.20 per cent, and the Nasdaq Composite added 1.64 per cent.

Oil prices at 5-month low: Oil prices tumbled on Thursday, touching a five-month low and extending the previous day’s sharp decline on the impact renewed coronavirus lockdowns could have on oil demand, according to Reuters. December Brent crude futures settled lower at $37.65 a barrel, down $1.47, or 3.76 per cent. US West Texas Intermediate (WTI) crude futures settled at $36.17 a barrel, down $1.22, or 3.26 per cent.

FII and DII data: On Thursday, foreign institutional investors (FIIs) and domestic institutional investors (DIIs) offloaded shares worth Rs 420.95 crore and Rs 253.41 crore, respectively, in the capital market on a net basis, according to the provisional data available on the NSE.

RIL, Dixon, IndusInd Bank: A total of 80 companies including Reliance Industries Ltd, IndusInd Bank, Indian Oil Corporation, DLF, Dhanuka Agritech, Dixon Technologies (India), Jindal Steel & Power, Jindal Stainless and Vakrangee are scheduled to announce their quarterly earnings today.

Core sector output contracts: The output of eight core infrastructure sectors dropped by 0.8 per cent in September, contracting for the seventh consecutive month. Barring coal, electricity and steel, all sectors such as crude oil, natural gas, refinery products, fertiliser and cement, recorded negative growth in September 2020.