Market may open higher

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 45 points at the opening bell.

Overseas, Asian stocks are trading higher on Friday despite increased volatility and rising new coronavirus infections.

In US, Wall Street's main indices closed higher in choppy trading on Thursday, with bank stocks soaring ahead of annual stress test results and helping to offset investor jitters over alarming increases in new coronavirus cases.

Apple Inc said it would close 14 stores in Florida again due to rising COVID-19 cases after other re-closures in Houston, Arizona, South Carolina, and North Carolina. Texas Governor Greg Abbott said he was halting his state's phased economic reopening in response to a jump in COVID-19 infections and hospitalizations.

The Fed on Thursday said it will cap big bank dividend payments and halt share repurchases until at least the fourth quarter. It found lenders faced significant capital losses when tested against an economic downturn caused by the coronavirus pandemic.

The US economy shrank at a 5% rate in the first quarter with a much worse decline expected in the current three-month economic period because of the coronavirus pandemic. The Commerce Department reported on Thursday that the decline in the gross domestic product, the total output of goods and services, in the January-March quarter was unchanged from the estimate made a month ago.

Back home, the Sensex and the Nifty ended with small losses on Thursday. Trading was volatile as the June 2020 F&O contracts expired on Thursday, 25 June 2020. IT shares declined while FMCG shares climbed. The barometer S&P BSE Sensex declined 26.88 points or 0.08% at 34,842.10. The Nifty 50 index fell 16.4 points or 0.16% at 10,288.90.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,050.61 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 255.59 crore in the Indian equity market on 25 June, provisional data showed.

Powered by Capital Market - Live News