MARKET WRAP: Sensex slips 97 pts, Nifty ends at 10,795; TCS falls over 2%

Markets, Stocks, BSE, NSE
The benchmark indices settled marginally lower on Friday weighed by IT bellwether Tata Consultancy Services (TCS) and select banking and automobile stocks.

The S&P BSE Sensex ended at 36,010, down 97 points or 0.27 per cent, while the broader Nifty50 index ended at 10,795, down 27 points or 0.25 per cent. On a weekly basis, the S&P BSE Sensex rose 0.88 per cent, while Nifty50 rose 0.63 per cent.

In the broader market, the S&P BSE MidCap index ended at 15,177, down 19 points or 0.13 per cent, while S&P BSE SmallCap index slipped 28 points or 0.19 per cent to 14,600.

Buzzing Stocks

Shares of Eveready Industries India (EIIL) jumped 13 per cent to settle at Rs 205 per share on the BSE on reports that promoter BM Khaitan is likely to sell the flagship company, a leader in dry cell batteries and flashlights.

 
IT bellwether Infosys gained 0.58 per cent to settle at Rs 684 on the BSE ahead of the board meeting today to consider the financial results for the third quarter of the financial year 2018-19 (FY19). Its peer Tata Consultancy Services (TCS)  declined 2.45 per cent to Rs 1,842 even as it earned its highest-ever net profit of Rs 8,105 crore in the seasonally weak third quarter (Q3) of 2018-19 (FY19).

Fast-moving consumer goods (FMCG) major ITC gained 1.85 per cent to end the day at Rs 295 on the BSE. The stock hit its highest level since October 4, 2018, during the intra-day trade.

Rupee

The rupee traded on a weak note slipping to 70.58 against the dollar on Friday. The domestic unit had settled at 70.41 against the greenback on Thursday.

Global Markets

Asian stocks inched up to five-week highs on Friday, after Fed Chairman Jerome Powell reiterated the Federal Reserve will be patient about raising interest rates and news that trade talks between Washington and Beijing are moving to higher levels.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.29 per cent to the highest levels since December 6, while Japan's benchmark Nikkei advanced 0.97 per cent. Shanghai Composite Index initially rose 0.56 per cent.

Oil Prices

Oil prices were on track for solid weekly gains on Friday after financial markets were lifted by hopes the United States and China may soon resolve their trade disputes, and as OPEC-led crude output cuts started to tighten supply.

International Brent crude futures were at $61.59 per barrel at 0555 GMT, down 9 cents, or 0.15 per cent, from their last close. US West Texas Intermediate (WTI) crude futures were 4 cents below their last settlement, at $52.55 per barrel. Brent and WTI are set for their second week of gains, rising nearly 8 per cent and 10 per cent respectively.

(With Reuters input)

3:37 PM IST Top sectoral gainers and losers on NSE

3:37 PM IST Top gainers and losers on S&P BSE Sensex

3:35 PM IST Market at close   The S&P BSE Sensex lost 97 points or 0.27 per cent to end at 36,010 while NSE's Nifty50 index closed below 10,800 level at 10,795, down 27 points or 0.25 per cent.

3:16 PM IST Caplin Point Lab hits 11-week high; stock surges 14% Shares of Caplin Point Laboratories surged to its 11-week high price of Rs 430, up 14 per cent on the BSE on Friday. The stock was trading at its highest level since November 16, 2018.   The pharmaceutical company today announced that the meeting of board of directors of the company is scheduled to be held next Friday, January 18, 2019, to consider and approve the investment by a global financial investor with strong healthcare experience in the wholly-owned subsidiary company, Caplin Steriles. READ MORE

3:14 PM IST Gold prices rise as Fed stance weakens dollar Gold prices climbed on Friday as the dollar retreated on expectations the Federal Reserve may pause interest rate hikes if the US economy slows this year, while investors awaited news on progress in the Sino-US trade talks.   Spot gold rose 0.6 per cent to $1,294.01 per ounce, heading for a fourth straight weekly gain. The yellow metal is up 0.7 per cent so far this week.   US gold futures were up 0.5 per cent at $1,294.3 per ounce. READ MORE

3:03 PM IST Equinor sets up office in New Delhi to support oil marketing, trading  Norway's Equinor said on Friday it is setting up an office in India's capital New Delhi partly to support its oil marketing and trading activities. The company expects to appoint a country manager for the office soon, Equinor's spokesman said in an e-mail to Reuters. READ MORE

2:51 PM IST NEWS ALERT UCO Bank to consider issuing of equity shares worth Rs 3,076 crores via preferential basis to Govt on January 17

2:50 PM IST Web Exclusive Infosys to announce Q3 results today: Here's what analysts expect IT major Infosys will release its financial results for third quarter of FY19 on Friday. While Q3 is seasonally weak for IT companies due to furloughs, healthy deal wins in H1FY19 and increasing contribution from the digital segment are expected to keep revenue growth steady for Infosys and other top IT vendors. Deal ramp ups are likely to support the company's growth.   Infosys, the country's second largest IT services company, will consider share buyback and a special dividend for shareholders as part of its capital allocation policy in the board meeting. Read more

2:45 PM IST Oil set for weekly gain on trade talk optimism, OPEC-led supply cuts   Oil prices were on track for solid weekly gains on Friday after financial markets were lifted by hopes the United States and China may soon resolve their trade disputes, and as OPEC-led crude output cuts tightened supply. Despite this, markets were held in check by expectations of an economic slowdown in 2019.   International Brent crude futures were at $61.62 per barrel, down 6 cents, or 0.1 percent, from their last close. US West Texas Intermediate (WTI) crude futures were 4 cents above their last settlement, at $52.63 per barrel.  

2:31 PM IST NEWS ALERT| Bank Of India board approves issuing up to 10 crore new equity shares to employees at Rs 80 per share

2:27 PM IST EARNINGS IMPACT

2:25 PM IST Top losers on BSE500 COMPANY PRICE() CHG() CHG(%) VOLUME APL APOLLO 1055.70 -43.65 -3.97 841 GREENPLY INDS. 138.00 -5.50 -3.83 4463 SREI INFRA. FIN. 34.45 -1.30 -3.64 175056 INTERGLOBE AVIAT 1057.70 -39.45 -3.60 24946 SOBHA 459.00 -16.85 -3.54 6807 » More on Top Losers

LIVE UPDATES

Top sectoral gainers and losers on NSE
Top gainers and losers on S&P BSE Sensex
Market at close
 
The S&P BSE Sensex lost 97 points or 0.27 per cent to end at 36,010 while NSE's Nifty50 index closed below 10,800 level at 10,795, down 27 points or 0.25 per cent.
Caplin Point Lab hits 11-week high; stock surges 14%

Shares of Caplin Point Laboratories surged to its 11-week high price of Rs 430, up 14 per cent on the BSE on Friday. The stock was trading at its highest level since November 16, 2018.
 
The pharmaceutical company today announced that the meeting of board of directors of the company is scheduled to be held next Friday, January 18, 2019, to consider and approve the investment by a global financial investor with strong healthcare experience in the wholly-owned subsidiary company, Caplin Steriles. READ MORE

Gold prices rise as Fed stance weakens dollar

Gold prices climbed on Friday as the dollar retreated on expectations the Federal Reserve may pause interest rate hikes if the US economy slows this year, while investors awaited news on progress in the Sino-US trade talks.
 
Spot gold rose 0.6 per cent to $1,294.01 per ounce, heading for a fourth straight weekly gain. The yellow metal is up 0.7 per cent so far this week.
 
US gold futures were up 0.5 per cent at $1,294.3 per ounce. READ MORE

Equinor sets up office in New Delhi to support oil marketing, trading

 Norway's Equinor said on Friday it is setting up an office in India's capital New Delhi partly to support its oil marketing and trading activities. The company expects to appoint a country manager for the office soon, Equinor's spokesman said in an e-mail to Reuters. READ MORE

NEWS ALERT UCO Bank to consider issuing of equity shares worth Rs 3,076 crores via preferential basis to Govt on January 17
Web Exclusive Infosys to announce Q3 results today: Here's what analysts expect

IT major Infosys will release its financial results for third quarter of FY19 on Friday. While Q3 is seasonally weak for IT companies due to furloughs, healthy deal wins in H1FY19 and increasing contribution from the digital segment are expected to keep revenue growth steady for Infosys and other top IT vendors. Deal ramp ups are likely to support the company's growth.
 
Infosys, the country's second largest IT services company, will consider share buyback and a special dividend for shareholders as part of its capital allocation policy in the board meeting. Read more

Oil set for weekly gain on trade talk optimism, OPEC-led supply cuts
 
Oil prices were on track for solid weekly gains on Friday after financial markets were lifted by hopes the United States and China may soon resolve their trade disputes, and as OPEC-led crude output cuts tightened supply. Despite this, markets were held in check by expectations of an economic slowdown in 2019.
 
International Brent crude futures were at $61.62 per barrel, down 6 cents, or 0.1 percent, from their last close. US West Texas Intermediate (WTI) crude futures were 4 cents above their last settlement, at $52.63 per barrel.
 
NEWS ALERT| Bank Of India board approves issuing up to 10 crore new equity shares to employees at Rs 80 per share
EARNINGS IMPACT


Top losers on BSE500

COMPANY PRICE() CHG() CHG(%) VOLUME
APL APOLLO 1055.70 -43.65 -3.97 841
GREENPLY INDS. 138.00 -5.50 -3.83 4463
SREI INFRA. FIN. 34.45 -1.30 -3.64 175056
INTERGLOBE AVIAT 1057.70 -39.45 -3.60 24946
SOBHA 459.00 -16.85 -3.54 6807
» More on Top Losers
NEWS ALERT| Karnataka Bank Q3FY19: PAT at Rs 140 cr vs Rs 87.4 cr YoY
Web Exclusive Nifty, Sensex set for 10% rally? Tech charts suggest so

The current market scenario indicates that soon benchmark indices Nifty50 and BSE Sensex will witness crossover of three moving averages (in a closer distance) - 50-day moving average (DMA), 100-DMA and 200-DMA on the daily chart. The same scenario has been witnessed four times in the entire history of both the indices. The said convergence indicates a strong rally of around 10 per cent as per the table mentioned below. Read more
Market check

Index Current Pt. Change % Change
 
S&P BSE SENSEX 35,863.16 -243.34 -0.67
 
S&P BSE SENSEX 50 11,246.83 -74.55 -0.66
 
S&P BSE SENSEX Next 50 32,525.44 -216.69 -0.66
 
S&P BSE 100 11,036.83 -73.20 -0.66
 
S&P BSE Bharat 22 Index 3,473.85 -11.71 -0.34

Praj Industries rises 12% on expansion of bio-energy basket

Shares of Praj Industries moved higher by 12 per cent to Rs 154 on the BSE on Friday after the company announced a ground-breaking integrated demo plant of compressed bio gas (CBG). The stock was trading at its highest level since September 22, 2008. “The company unveiled its roadmap for commercialization of CBG technology and reaffirmed its readiness by way of required infrastructure to execute multiple CBG plants with advanced technology and designs. CBG is a complementary renewable transportation fuel to Compressed Natural Gas (CNG). Praj's CBG technology is a major step in that direction,” Praj Industries said in a press release on Thursday, January 10, 2019, after market hours. Read more
 
Realty shares trade weak after status quo on GST rate

Shares of real estate companies were trading weak and falling up to 6 per cent on BSE in the intra-day deal on Friday after the goods and services tax (GST) Council on Thursday deferred a decision on a tax rejig for residential properties.
 
Ansal Properties & Infrastructure, Marathon Nextgen Realty, DB Realty, Purvankara, Housing Development & Infrastructure (HDIL) and Sobha were down in the range of 4 per cent to 6 per cent on the BSE. DLF, Oberoi Realty, Indiabulls Real Estate and Prestige Estates were down 1 per cent each. READ MORE

SIPs lose steam in the December quarter; investors wait & watch

The growth of systematic investment plans, or SIPs, has been the slowest in the December quarter. An analysis of the data released by the Association of Mutual Funds in India (Amfi) shows the average SIP contribution in September-December grew at its slowest pace of 4.6 per cent on a quarterly basis. “One-year SIP returns have been negative, which may start weighing on SIP flows. READ MORE
Devangshu Datta US could be a good international hedge

It has become easier to invest in overseas equities and bonds. The tax incidence isn’t bad, now that Indian equity holdings are also subject to long-term capital gains tax. Given that the next six months look uncertain for the Indian markets, should we be looking abroad to create a hedge against Nifty volatility? Here are some thoughts. Assume that, as a relatively uninformed investor, you would be passively tracking exchange-traded fund (ETFs) in whatever markets you follow. There isn’t much point in looking at other emerging markets (EMs) as hedges. Read more

How the second-longest US government shutdown is affecting the economy

Parts of the federal government have been closed since midnight on Dec. 22, making it the second-longest shutdown on record. It’s also the third since President Donald Trump took office. READ MORE
Top gainers and losers on S&P BSE Sensex


Infosys trading flat ahead of Q3 results; Board may consider share buyback

Shares of Infosys were trading flat at Rs 677 apiece on BSE on Friday ahead of the board meeting today to consider the financial results for the third quarter of the financial year 2018-19 (FY19). The stock hit an intra-day high of Rs 685, after opening at Rs 684. It touched a low of Rs 676 so far. At 11:30 am, the S&P BSE Sensex was trading 54 points or 0.15 per cent lower at 36,052 levels. Read more

Market check

Index Current Pt. Change % Change
 
S&P BSE SENSEX 35,953.79 -152.71 -0.42
 
S&P BSE SENSEX 50 11,275.98 -45.40 -0.40
 
S&P BSE SENSEX Next 50 32,574.34 -167.79 -0.51
 
S&P BSE 100 11,063.72 -46.31 -0.42
 
S&P BSE Bharat 22 Index 3,482.39 -3.17 -0.09

Web Exclusive TCS Q3 PAT at record high but EBIT margin misses estimates; should you buy?

Shares of Tata Consultancy Services (TCS) fell as much as 2.54 per cent in early trade on the BSE after the company's Q3 revenue and operating margins missed consensus estimates narrowly. The country’s largest information technology (IT) services company on Thursday reported its highest-ever net profit of Rs 8,105 crore in the seasonally weak third quarter (Q3) of 2018-19 (FY19). This is the first time that TCS’s net income has crossed the Rs 8,000 crore mark, a Business Standard report said.  Read more

Top losers on BSE500

COMPANY PRICE() CHG() CHG(%) VOLUME
SOBHA 459.00 -16.85 -3.54 3775
GREENPLY INDS. 139.10 -4.40 -3.07 602
PERSISTENT SYS 548.30 -16.60 -2.94 7347
ASHOKA BUILDCON 129.20 -3.40 -2.56 1476
R C F 65.15 -1.65 -2.47 117300
» More on Top Losers
Indian rupee goes from Asia's best to worst performer in just two weeks

The turn of fortune for India’s rupee couldn’t be more rapid. It has gone from being Asia’s best performer to the worst in two weeks. A rebound in prices of oil, the nation’s top import, and concerns about an expensive bailout for farmers before general elections to be held by May has caused the rupee to miss out on a revival in emerging currencies. Funds are instead piling into the Indonesian rupiah and Chinese yuan on optimism over trade talks and signs of a Federal Reserve rate hike pause. Read more

ITC hits 3-month high; stock gains 9% in one month

Shares of ITC hit a three-month high of Rs 295 apiece, up 2 per cent on the BSE in an otherwise range-bound market on Friday. The stock of fast moving consumer goods (FMCG) was trading at its highest level since October 4, 2018. In past one month, ITC outperformed the market by gaining 9 per cent, as compared to a 3 per cent rise in the S&P BSE Sensex. Read more
 
Xiaomi's IPO flops, but a select few shareholders earn 56,823% profit

Xiaomi is a perfect example of how taking a company public can make a select number of shareholders a lot of money, even if the IPO flops. The stock lost about 30 per cent in the six months that followed its Hong Kong debut. For those who snapped up stock in Xiaomi’s earliest funding round, offloading the shares this week still proved hugely profitable. They paid as little as 1.95 Hong Kong cents for a slice between September 2010 and May 2011. Read more
 
NIfty PSU Bank index declines

COMMENT by Mustafa Nadeem, CEO, Epic Research on Q3 results of Infosys

Infosys is seeing a less volatile move as compared to its previous range since we are nearing the event. Yesterday, stock saw an inside day while the volatility also remains muted. The stock is in a very tight range of 665 - 690. Derivatives data suggest a range for the stock to be 700 to 640 and we expect this to be very crucial. Given its overall trend, and move beyond this range would give a directional view in the medium term. The trend is likely to emerge once the stock closes above 700.
Eveready Industries rallies 18% on reports of a promoter stake sale plan

Shares of Eveready Industries India (EIIL) rallied 18% to Rs 214 per share on the BSE in early trade on reports that promoter B M Khaitan is likely to sell the flagship company, a leader in dry cell batteries and flashlights. “The B M Khaitan-led Williamson Magor is selling its flagship Eveready Industries, triggering an auction process for one of the country’s oldest consumer brands,” the Times of India report suggested. Read more

Prabhudas Lilladher on Marico
 
We downgrade our rating from BUY to Accumulate given 
 
1) 28% jump in stock price since our upgrade and 
2) rising probability that Copra price decline in the current down cycle will be far lower than previous occasions. 
 
Our channel checks suggest steady Copra prices in January on account of demand supply gap and expected softening from Feb to August, although the magnitude might be far lower than expected. Our analysis suggests that Copra prices dip by 14-34% from the MSP during down cycle and the ratio
has been coming down over the years. We estimate that Marico’s current parachute margins are arund 55-60%, which are lower than previous peak of around 70%.
 
We believe current bottom cycle margins can be lower than previous cycle given 60% increase in MSP (past 12 months) and focus on driving volumes. Our estimates factor in 150bps margin expansion in FY20 which will enable 20% PAT growth.
 
Market check

Index Current Pt. Change % Change
 
S&P BSE SENSEX 36,152.58 +46.08 +0.13
 
S&P BSE SENSEX 50 11,335.44 +14.06 +0.12
 
S&P BSE SENSEX Next 50 32,728.40 -13.73 -0.04
 
S&P BSE 100 11,121.21 +11.18 +0.10
 
S&P BSE Bharat 22 Index 3,491.85 +6.29 +0.18

HDFC Securities on Tata Consultancy Services
 
TCS booked deals with TCV at USD 5.9bn which included USD 2bn from BFSI, USD 3bn from NorthAm. (2) Management maintained its ‘double digit’ rev outlook for 4Q (double-digit for 2H earlier). (3) IoT, Intelligent Automation driving new deals in digital and demand for digital at ‘all-time high’. (4) Better traction in BFS in NorthAm and in Insurance in the Europe geography.  Near-term outlook: Strong deal bookings expected to drive growth.
Nifty IT index is trading over 1% lower weighed by TCS


Eveready surges over 15% in early trade


Sebi keeps NSE's consent petition on hold in the co-location case

Capital markets regulator Securities and Exchange Board of India (Sebi) has kept the National Stock Exchange’s (NSE’s) consent plea on hold in the co-location (colo) case, until the Madras High Court (HC) decides on the writ petition filed against the exchange and others in the matter, said two persons privy to the development. NSE filed its second consent application with Sebi in October to settle the matter, after its first settlement plea was returned by the regulator in 2017. Read more

Infosys edges up in early deals ahead of its earnings


TCS slips over 1% in opening deals trade post Q3 result


Sectoral trend on NSE

Sectoral trend on NSE


Opening gainers and losers on S&P BSE Sensex

Opening gainers and losers on S&P BSE Sensex


Market at open
 
At 9:15 AM, the S&P BSE Sensex was trading at 36,147, up 40 points, while the broader Nifty50 was ruling at 10,830, up 9 points.
Market check

Index Current Pt. Change % Change
 
S&P BSE SENSEX 36,200.25 +93.75 +0.26
 
S&P BSE SENSEX 50 11,347.55 +26.17 +0.23
 
S&P BSE SENSEX Next 50 32,748.78 +6.65 +0.02
 
S&P BSE 100 11,132.69 +22.66 +0.20
 
S&P BSE Bharat 22 Index 3,495.30 +9.74 +0.28

Rupee opening
 
Rupee opens at 70.42/$ vs its previous close of 70.41 per US dollar
Motilal Oswal Financial Services on TCS
 
TCS’ 9MFY19 EBIT margin of 25.7% is after YoY INR depreciation of 8.4% for this period. This drives a 70-80bp cut in our profitability estimate, and we believe that the aspired band of 26-28% may remain elusive for a while (FY19/20/21 estimate of 25.7/25.8/25.9). Our CC revenue CAGR estimate of 10% over FY19-21 remains unchanged, and thus, our earnings estimate for FY20/21 is down by 1.7%/1.4%. Amid news of potential macro weakness, there is limited case to build further upside to our revenue estimates. The stock trades at 21x/19x FY20/21E. Our TP of Rs 2,000 discounts forward earnings by 20x. Maintain Neutral.
Today's picks: From HPCL to Hindalco, hot stocks to watch on Friday

HPCL
Current price: Rs 233
Target price: Rs 229
 
Keep a stop at Rs 235 and go short. Add to the position between Rs 230-Rs 231. Book profits at Rs 229.

Hindalco 
Current price: Rs 204
Target price: Rs 208
 
Keep a stop at Rs 202 and go long. Add to the position between Rs 206-Rs 207. Book profits at Rs 208. READ MORE

Jet Airways, HFCL, Infosys and TCS among top stocks to track today

December quarter earnings announcement by Infosys, macroeconomic data (forex reserves, Index of Industrial Production and manufacturing output), crude prices and movement in rupee are likely to sway investor sentiment on Friday. This apart, market participants are expected to react to assurances by Federal Reserve Chairman Jerome Powell that the US central bank has the ability to be patient on monetary policy.
 
At 08:43 am, the Nifty futures on Singapore Exchange (SGX), an early indicator of Nifty50 performance back home, traded 26.50 points or 0.24 per cent higher at 10,887.50. 
 

Derivative strategy on Divi's Lab by HDFC Securities

Buy Divi's Lab JANUARY Future at Rs 1525
Stop loss: Rs 1,505
Target: Rs 1,555
 
Rationale:
 
-- The long build-up is seen in Divi's Lab Futures’ yesterday where we have seen Rise in Open Interest with a price rise of 3%.
 
-- The stock price has given a breakout on the daily chart by closing above the 1495 level on the daily charts.
 
-- Divi’s Lab is trading above its 5,20 and 200 day SMA, Indicating bullish trend for the short to medium term.
 
-- The stock price is making bullish higher top higher bottom formation on the daily charts since June 2017.
 
-- Momentum Indicators and Oscillators are also Indicating strength in the stock for the short to medium term.

TCS net profit crosses Rs 8,000-crore milestone in Q3, jumps 24% y-o-y

The country’s largest information technology (IT) services company, Tata Consultancy Services, earned its highest-ever net profit of Rs 8,105 crore in the seasonally weak third quarter (Q3) of 2018-19 (FY19). This was in line with market expectations, though revenue and operating margins missed consensus estimates narrowly.
 
This is the first time TCS’s net income has crossed the Rs 8,000-crore mark. The Mumbai-headquartered company’s profit grew 24.1 per cent year on year (YoY) and 2.58 per cent sequentially. READ MORE
Photo: @TCS_News

Infosys to announce Q3 results today: Here's what analysts expect

IT major Infosys will release its financial results for the third quarter of FY19 on Friday. While Q3 is seasonally weak for IT companies due to furloughs, healthy deal wins in H1FY19 and increasing contribution from the digital segment are expected to keep revenue growth steady for Infosys and other top IT vendors. Deal ramp ups are likely to support the company's growth.
 
Infosys, the country's second largest IT services company, will consider share buyback and a special dividend for shareholders as part of its capital allocation policy in the board meeting. READ MORE
FILE PHOTO: The logo of Infosys is pictured inside the company's headquarters in Bengaluru | Photo: Reuters

Top trading calls by Anand Rathi

EXIDE: BUY
TARGET: Rs 280
STOP LOSS: RS 255
 
The stock has formed a nice symmetrical triangular pattern and it seems to have completed a wave e, hence the probability of an upside from current levels is quite high. The momentum indicator has now come well into buy mode.
 
LICHSGFIN: BUY
TARGET: Rs 287
STOP LOSS: Rs 470
 
The stock has formed a symmetrical triangular pattern and it has provided a buy crossover in its hourly as well as daily momentum indicators. Read more
Nifty outlook by Prabhudas Lilladher

Market consolidates in this very narrow range with Bank Nifty too consolidating after a good run-up. The support for the day is seen at 35850/10750 while resistance is seen at 36370/10900. Bank Nifty would have a range of 27230-27800. Market still observes an absolute stock specific movement, sector-wise Pharma is now showing signs of a pickup. Read more
Rupee check

Snapping its two-session slide, the rupee ticked higher by 5 paise to close at 70.41 per US dollar Thursday on increased selling of the greenback by exporters amid easing crude oil prices.
Oil prices dip as worries over economic slowdown return

Oil prices slipped on Friday as concerns over economic growth were rekindled after talks fell short of offering concrete steps to end the Sino-US trade conflict, although OPEC-led production cuts bolstered sentiment in crude markets.

International Brent crude futures were at $61.22 per barrel, down 46 cents, or 0.75 per cent, from their last close.  US West Texas Intermediate (WTI) crude futures  dropped 34 cents, or 0.65 per cent, to $52.25 per barrel.

SGX Nifty
 
Nifty futures on Singapore Exchange (SGX) were trading at 10,884, up 23 points or 0.21 per cent in early trade
Asia stocks at one-month high, focus stays on US-China trade talks

Asian stocks inched higher to one-month highs on Friday, after Federal Reserve Chairman Jerome Powell reiterated the US central bank can be patient on raising interest rates further.

MSCI's broadest index of Asia-Pacific shares outside Japan edged 0.2 per cent higher, while Japan's benchmark Nikkei advanced 1.1 per cent in early trade.
 
US stocks rise for fifth straight day as the Fed supports
 
An index of world stock markets rose on Thursday as worries over the lack of clear signs of a resolution to the U.S.-China trade spat were offset by an assurance by Federal Reserve Chairman Jerome Powell that the U.S. central bank has the ability to be patient on monetary policy.

The Dow Jones Industrial Average rose 49 points, or 0.21 per cent, to 23,928.12, the S&P 500 gained 4.64 points, or 0.18 per cent, to 2,589.6 and the Nasdaq Composite added 11.96 points, or 0.17 per cent, to 6,969.04.
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