Apprehensions ahead of the US-China trade deal decision are likely to keep investors on tenterhooks on Friday. Moreover, March quarter results and a depreciating rupee will also be on their radar.
On Thursday, the benchmark S&P BSE Sensex lost 230 points, or 0.6 per cent, to settle at 37,559 levels. The broader Nifty50 closed above the crucial level of 11,300 at 11,302. It lost 58 points or 0.5 per cent.
The rupee ended at Rs 69.94 per US dollar against Wednesday’s close of Rs 69.71.
Country’s largest state-run bank, State Bank of India (SBI) is scheduled to announce its Q4FY19 numbers today along with Canara Bank, Allahabad Bank, Eicher Motors and L&T. In all, 56 companies will announce their last quarter earnings of the financial year 2018-19 (FY19) on Friday.
Asian shares firmed up from two-month lows on Friday on hopes that Washington may suspend its plan to raise tariffs on $200 billion worth of Chinese goods. MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.2 per cent while Japan’s Nikkei rose 0.4 per cent.
On Wall Street, S&P 500 index lost 8.7 points (0.3 per cent) to end at 2,871 levels, while Nasdaq ended 33 points (0.4 per cent) lower at 7,910 levels. Dow Jones Industrial Average, too, shed 139 points (0.54 per cent) to close at 25,828 levels.
US oil prices rose on Friday on renewed optimism that a trade deal between Washington and Beijing could be struck. Brent crude futures were at $70.85 a barrel at 5:51 am, up 0.7 per cent, from their last close.