Trends on SGX Nifty indicate a positive opening for the indices. The Nifty Futures were trading at 15,756 on the Singaporean Exchange.
At 09:02 AM, the Sensex was up 202.16 points or 0.39 percent at 52,525.49. The Nifty was up 63.60 points or 0.41 percent at 15,755.
Indian Benchmark Indices are expected to open on a positive note on account of positive opening in the Asian markets. US stocks closed mixed after jobless claims rose for the first time in seven weeks. Dow Jones declined 0.6 percent and the Nasdaq Composite climbed 0.9 percent.
According to Mohit Nigam, Head-PMS, Hem Securities, "The market will bounce back after a fall in the last two trading sessions. Positive sentiment in the market on account of fall in pandemic cases and hope the economy will be back on track soon. FIIs were net sellers Rs 880 cr and DIIs were net buyers of Rs 45 crore in yesterday's session. Immediate support and resistance for Nifty 50 are 15,600 and 15,850 respectively," he added.
Asian markets trade mixed
On Friday morning trade the Asian markets were mixed following an overnight drop for the Dow Jones Industrial Average on Wall Street. In Japan, the Nikkei 225 gained 0.14 percent while the Topix index slipped 0.55 percent. South Korea's Kospi traded fractionally higher. The S&P/ASX 200 in Australia advanced 0.17 percent.
US technology shares jumped on Thursday on optimism around a speedy economic recovery, although the Federal Reserve's unexpectedly hawish message on monetary poicy kept the S&P 500 subdued. The Dow Jones Industrial Average was down 192.50 points or 0.57 percent at 33,841.17 and the S&P 500 was 2.35 points or 0.06 percent at 4,226.05. The Nasdaq Composite was up 152.87 points or 1.09 percent up at 15,192.55.
Quarterly results today
The following companies will announce their quarterly results today: Ashoka Buildcon, Archidply Industries, Balaji Telefilms, BC Power Controls, Gujarat Fluorochemicals, GMR Infrastructure, Hinduja Global Solutions, HT Media, Insecticides (India), Jubilant Industries, PSP Projects, SMS Lifesciences, Timken India, and Welspun Specialty Solutions.
Indian IT-BPM sector continues to hire
Indian IT-BPM sector continues to be a net-hirer of skilled talent, clarifies IT industry body NASSCOM, after a report suggested that the sector would face 3 million job losses in 2022. In response, NASSCOM said in a statement, "With the evolution of technology and increasing automation, the nature of industrial IT jobs and roles will evolve overall leading to creation of newer jobs. The industry continues to be a net hirer of skiled talent, adding 138,000 people in FFY2021'.
F&O ban
Adani Ports, BHEL, Canara Bank, Escorts and Punjab National Bank are under the F&O ban for June 18. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
