The benchmark indices, the BSE Sensex and the NSE Nifty, closed the day almost unchanged from their overnight levels.
The Sensex gained 12 points or 0.03 per cent to finish at 41,945. The Nifty ended the day at 12,352, down 3 points on its overnight close.
The top gainers on the Sensex were Bharti Airtel, which rose over 5 per cent. Reliance, Sun Pharma, HCL Tech and Maruti rose between 0.80-3 per cent.
The laggards were IndusInd Bank, which dropped 2.7 per cent, SBI, HDFC, L&T and ICICI Bank, which dropped between 1-2 per cent.
The Sensex, which opened flat at 41,929, posted an intra-day high of 42,063 and a low of 41,850.
Among the BSE sectoral indices, the energy index gained 1.79 per cent, telecom 1.49 per cent and healthcare 1.26 per cent.
The banking, finance and capital goods indices finished in the red.
European shares at record high as US-EU trade tensions ease
European shares touched a record high on Friday after EU Trade Commissioner Phil Hogan struck a positive tone on talks with Washington, soothing some concerns over a possible escalation in trade tensions between the cross-Atlantic allies.
The pan STOXX 600 index rose 0.4 per cent to a record high of 422.51 by 0803 GMT, and was set to mark its best week since late-December. Click here to read more on the European markets.
Australian $ gains as data shows China may have turned corner
The Australian dollar rallied on Friday as Chinese data showed pressure on the world's second-biggest economy may be starting to diminish, with the offshore yuan rising to a six-month high against the greenback.
The Aussie is often traded as a liquid proxy for the Chinese yuan as the country's small, open economy is heavily reliant on exports to China. Click here to read in full the global forex markets report .
Oil steady as sluggish China growth offsets trade deal optimism
Oil prices were steady on Friday as reports of sluggish economic growth in China, the world's biggest crude importer, raised concerns about fuel demand, which countered optimism from the signing of a Sino-US trade deal this week.
The world's second-largest economy grew by 6.1 per cent in 2019, its slowest expansion in 29 years, government data showed on Friday. Click here to read in full the global oil markets report .
Nifty call: Go long above 12,400 levels, with stop-loss at 12,390
After a negative open, the Sensex and Nifty recovered and entered positive territory. But witnessing selling pressure at higher levels, the key benchmark indices slipped into negative territory and turned choppy.
The Asian markets are trading marginally in the green, the Nikkei 225 advancing 0.45 per cent to 24,041 and the Hang Seng trading almost flat at 28,897 levels in today's trading session. Click here to read in full the Nifty call report .
Asian shares firm as China data points to easing economic strains
Asian shares rose on Friday after data in China showed pressure on the world's second biggest economy may be starting to diminish.
The news along with easing trade tensions with the US underpinned riskier assets, even as some markets took a breather in late afternoon trade.
European bourses were expected to extend the global rally after Wall Street posted more records. In early European trades, pan-region Euro Stoxx 50 futures were up 0.4 per cent, German DAX futures gained 0.54 per cent and FTSE futures added 0.28 per cent. Click here to read in full the Asian markets report .
Benchmark indices trade little changed
The Sensex and Nifty traded almost unchanged from their previous closing levels at mid-session on Friday.
The Sensex was up 21 points or 0.05 per cent at 41,954. The broader 50-share index was at 12,347, down 8 points or 0.07 per cent lower.
The top gainers on the Sensex were Bharti Airtel, which rose nearly 4 per cent, followed by Reliance, HeroMotoCorp, M&M and UltraTech Cement (which rose between 0.50-2 per cent).
The laggards were IndusInd Bank, down 2 per cent, followed by HDFC Bank, Asian Paints, SBI and HDFC (which fell between 0.50 and 1 per cent).
Though telcos can file curative petition on AGR dues, they should be prepared for worst: Repo rt
The incumbent telecom firms should be prepared for the worst case scenario in the Adjusted Gross Revenue (AGR) issue; though they can still file a curative petition, the probability of resolution remains bleak.
“Though they can still file a curative petition, the probability of resolution remains bleak,” a report by ICICI Securities said. Click here to read in full the report on telcos's AGR dues .
Daily rupee call: Initiate rupee long with tight stop-loss
The rupee (INR) came under selling pressure against the dollar (USD) on Thursday. The local currency faced a resistance at 70.7 and declined throughout the day, closing at 70.93. On the downside, 71 is a key support and notably, the USDINR exchange rate has been consolidating between 70.7 and 71.
If the local currency breaks below the support at 71, it may move lower to 71.2. On the other hand, if it breaks out of the resistance at 70.7, it can move to 70.5. Click here to read in full the daily rupee call .
Oil steady ahead of data confirming sluggish China growth
Oil prices were steady on Friday as investors braced for data expected to show China's economic growth last year slid to its slowest pace in 29 years, holding on to gains for now after Washington and Beijing inked a long-awaited trade deal.
Brent was 3 cents higher at $64.65 by 6:53 am IST, after gaining nearly 1 per cent on Thursday. US crude was up 6 cents at $58.58 a barrel, having risen more than 1 per cent the previous session. Click here to read in full the global oil markets report .
Asian shares firm as China's GDP raises hopes of recovery
Asian shares rose on Friday after global stock indexes and Wall Street posted more records, and as China's economic growth matched expectations in spite of US trade pressures.
The world's second-largest economy grew 6.0 per cent in the fourth quarter of 2019 from a year earlier, and 6.1 per cent for the full year, official data showed on Friday. Click here to read in full the Asian markets report .
Dollar gains on stronger US data
The dollar gained on Friday as US data suggested the world's largest economy maintained a moderate growth pace at the end of 2019, reaching an eight-month peak against the safe-haven yen.
US retail sales increased for a third straight month in December and the number of Americans filing claims for unemployment benefits dropped for a fifth straight week last week, indicating the labour market remained strong. Click here to read in full the global forex report .
Rupee opens lower, hits 71 per US dollar in early trade
The Indian rupee opened on a cautious note and fell 7 paise to 71.00 against the US dollar in early trade on Friday, tracking a weak opening in domestic equities and foreign fund outflows.
At the interbank foreign exchange market, the rupee opened at 70.98, then fell to 71.00 against the dollar, showing a decline of 7 paise over its previous closing.
The Indian rupee on Thursday had closed at 70.93 against the dollar. Click here to read in full the rupee report .
Market benchmarks trade flat
The Sensex and Nifty traded flat in early session on Friday. The Sensex was unchanged at 41,934, while the Nifty was a shade lower at 12,354.
The top gainers in the Sensex pack were Bharti Airtel (up nearly 4 per cent), Reliance, Nestle India, HeroMotoCorp and Hindustan Unilever.
The laggards were IndusInd bank (down over 2 per cent), SBI, HDFC Bank, Power Grid and HDFC.
The Sensex and Nifty started on a tepid note ahead of quarterly results of Reliance Industries, TCS and HCL Tech, said an agency report..
The report said traders and domestic investors were awaiting key corporate results for cues amid concerns over macroeconomic issues like higher bank NPAs and a spike in retail inflation.
Bourses in Shanghai, Tokyo and Seoul were trading on a positive note in their early sessions, while Hong Kong was in the red.
Benchmarks on Wall Street ended at record highs on Thursday. Brent crude oil futures slipped 0.05 per cent to $64.59 per barrel.
Meanwhile, the rupee depreciated 5 paise to 70.98 against the US dollar in the morning session. In the previous session, the Sensex settled at 41,932.56, up 59.83 points, or 0.14 per cent. Likewise, the Nifty closed at 12,355.50, showing a gain of 12.20 points, or 0.10 per cent.
On a net basis, foreign institutional investors sold equities worth Rs 395.24 crore, while domestic institutional investors offloaded shares worth Rs 184.65 crore on Thursday, data available with the stock exchanges showed. (with inputs from PTI)
SEBI exonerates Ravi Narain, 8 others in NSE dark-fibre case
Market regulator SEBI has exonerated former National Stock Exchange MD and CEO Ravi Narain and a few other senior officials in a matter involving dark-fibre connectivity at the stock exchange.
SEBI had asked NSE to deposit ₹62 crore of estimated ‘ill-gotten wealth’ but the regulator on Thursday said the nine officials, including Narain, cannot be held responsible for any misconduct or non-compliance in the so-called ‘dark-fibre issue’. Click here to read in full the report on SEBI exonerates Ravi Narain .
Opening bell
The benchmark indices, the BSE Sensex and the NSE Nifty, traded flat to weakly firm in the opening session on Friday.
The Sensex was quoted at 41,946, up 6 points or 0.02 per cent firmer. The Nifty traded at 12,355, up 12 points or 0.09 per cent.
Day trading guide for January 17, 2020
₹1287 • HDFC Bank
S1 | S2 | R1 | R2 | COMMENT |
1275 | 1260 | 1300 | 1315 | Initiate fresh long positions with a tight stop-loss only if the contract moves beyond ₹1,300 levels |
₹766 • Infosys
S1 | S2 | R1 | R2 | COMMENT |
759 | 750 | 774 | 783 | Fresh long positions can be initiated with a stiff stop-loss if the stock reverses higher from ₹759 levels |
₹240 • ITC
S1 | S2 | R1 | R2 | COMMENT |
237 | 235 | 243 | 246 | Fresh long positions are recommended with a fixed stop-loss only if the stock of ITC advances above ₹243 levels |
₹124 • ONGC
S1 | S2 | R1 | R2 | COMMENT |
122 | 120 | 127 | 130 | Consider initiating fresh long positions with a tight if the stock of ONGC rallies above ₹127 levels |
₹1537 • Reliance Ind.
S1 | S2 | R1 | R2 | COMMENT |
1525 | 1510 | 1550 | 1565 | The stock faces a key resistance ahead at ₹1,550. Go long only if it moves above this level with a fixed stop-loss |
₹323 • SBI
S1 | S2 | R1 | R2 | COMMENT |
318 | 310 | 330 | 337 | Initiate fresh long positions with a stiff stop-loss if the stock of SBI bounces up from ₹318 levels |
₹2238 • TCS
S1 | S2 | R1 | R2 | COMMENT |
2220 | 2200 | 2260 | 2280 | Consider initiating fresh long positions with a fixed only if the stock of TCS rebounds up from ₹2,220 levels |
12374 • Nifty 50 Futures
S1 | S2 | R1 | R2 | COMMENT |
12340 | 12290 | 12410 | 12450 | Initiate fresh long positions with a fixed stop-loss if the contract reverses higher from 12,340 levels |
S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2.
Today's Pick: JK Tyre & Industries (₹82.4): Buy
The stock of JK Tyre & Industries jumped 5 per cent accompanied by extraordinary volume, breaking above a key resistance at ₹78 on Thursday. This rally has strenthened the short-term uptrend and provides an opportunity to buy the stock at current levels for investors with short-term perspective. Click here to read the Today's Pick on JK Tyre in full.