MARKET EYE-SGX Nifty flat; rupee to be in focus for intra-day direction

  • Nifty futures on the Singapore Exchange trading flat while the MSCI-Asia Pacific index excluding Japan falls 0.5 percent.
  • Stocks including Spice Jet Ltd. and Tech Mahindra Ltd. will be watched ahead of their earnings due during the day.
  • Traders expect a flat to slightly higher open in the local market with the rupee being a key focus area during the session. The Nifty is expected to remain between 6180 and 6350, with some action likely in the mid-caps space, dealers said.
  • Dealers will closely watch the U.S. third-quarter growth data and the European Central Bank and Bank of England rate decisions due later in the day. The non-farm payrolls due on Friday will be key for gauging expectations of the Fed taper.
  • Asian stocks struggled on Thursday as investors waited for stimulus-sensitive U.S. payroll data, although the euro perked up ahead of the European Central Bank’s policy meeting.

 

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