Moneycontrol News

The Nifty50 is expected to open lower on Friday tracking muted trend seen in other Asian markets. The index closed 39 points higher at 10,565 on Thursday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 46.5 points or 0.44 percent. Nifty futures were trading around 10,541-level on the Singapore Stock Exchange.

Wall Street’s three major indexes closed lower on Thursday, with tobacco stocks leading a tumble in consumer staples while concerns about smartphone demand hurt the technology sector and rising bond yields and earnings helped financials rebound, said a Reuters report.

The Dow Jones Industrial Average fell 83.18 points, or 0.34 percent, to 24,664.89, the S&P 500 lost 15.51 points, or 0.57 percent, to 2,693.13 and the Nasdaq Composite dropped 57.18 points, or 0.78 percent, to 7,238.06.

Asian shares slipped as a warning on smartphone demand from the world’s largest contract chipmaker slugged the tech sector, while lofty oil prices stirred inflation fears and undermined sovereign bonds, Reuters report added.