The SGX Nifty gained 0.1% in trade on Thursday morning, signaling that domestic indices NSE Nifty 50 and BSE Sensex would open on a flat basis. Nifty futures were 18 points higher on the Singaporean exchange at 18,196. After trading in the green, Nifty 50 and Sensex erased their gains to end lower. Nifty gave up 52 points in trade, closing at 18,130 while Sensex declined 130 points or 0.2% to 61,432. 

“Positive developments in debt-ceiling negotiations in the US had a favourable impact on global market sentiments. However, the domestic market experienced a subdued mood in the latter half, mainly attributed to the mixed earnings reported by sector majors. India’s VIX at lower levels indicates market stability, instilling confidence in investors and encouraging long-term investment,” said Vinod Nair, Head of Research, Geojit Financial Services.

Key things to know before share market opens

Wall Street

U.S. stocks extended gains on the possibility of a speedy resolution regarding its $31.4 trillion debt ceiling. The Dow Jones Industrial Average rose by 0.34% while the tech-heavy Nasdaq Composite soared 1.51% and the S&P 500 added 0.94%.

Asian Markets

Shares in Asia-Pacific followed Wall Street’s positive cues, as Asian markets were largely trading in the green. Hong Kong’s Hang Seng fell 1.38% while China’s Shanghai Composite traded lower by 0.72%. Japan’s Nikkei 225 gained sharply, up 0.99% as Taiwan’s TSEC 50 was up 0.39% and South Korea’s Kospi was up 0.47% at 0745 IST. 

Crude Oil

Oil prices fell slightly in early Asian trade on Friday as optimism that a U.S. debt default will be avoided weighed against sticky inflation data that could portend more interest rate hikes from global central banks. Brent futures were down 2 cents at $75.84 a barrel as at 0015 GMT. U.S. West Texas Intermediate (WTI) crude fell 10 cents, or 0.043%, to settle at $71.76.

FII/DII Data

Foreign institutional investors (FII) net bought shares worth net Rs 970.18 crore, while domestic institutional investors (DII) net sold shares worth net Rs 849.96 crore on May 18, according to the provisi...