Domestic stocks may open on a negative note on Thursday amid weak cues from Asian stocks, which weakened after Fed Chair Jerome Powell highlighted uncertainty about the economic rebound.



Here’s breaking down the pre-market actions:

STATE OF THE MARKETS
SGX Nifty signals negative start
Nifty futures on the Singapore Exchange traded 22.5 points, or 0.19 per cent lower at 11,581.50, in signs that Dalal Street was headed for a negative street was headed for a negative start on Thursday.

Tech View: Nifty clears key hurdles, eyes upside
Nifty50 rose for the second straight session on Wednesday and formed a bullish candle on the daily chart. During the day, the index broke above its 61.8 per cent retracement of the decline from 11,794 to 11,185 level, and also its previous swing high of 11,585 to close just shy of the 11,600 mark. Analysts said the index has the potential to move towards its August high of 11,794 level in the coming sessions.

Asian markets weak tracking US stocks
Japan's Nikkei 225 index fell 0.20 per cent or 46.97 points to 23,428.56, a day after Japan's parliament elected Yoshihide Suga as the country's new prime minister. In Hong Kong, Hang Seng declined 1.18 per cent, or 297 points, to 24,432.55. China's Shanghai Composite index dipped 0.62 per cent, or 20.76 points, to 3,263.43. South Korea's Kospi declined 0.68 per cent or 18 points to 2,419.45.


Oil NSE 1.12 % steady as demand worries revive
Oil prices were mixed in early trade on Thursday, just clinging to overnight gains, as concerns about weak fuel demand were in the frame again after Hurricane Sally blasted through the Gulf of Mexico into the southeastern United States. US WTI crude futures were flat at $40.16 a barrel, after jumping 4.9 per cent on Wednesday. Brent crude futures gained 5 cents, or 0.1 per cent, to $42.27 a barrel, after climbing 4.2 per cecent, to 11,050.47.

Happiest Minds listing today
Happiest Minds is set to make its debut on the bourses . The issue, which was sold between September 7 and September 9 in the price band of Rs 165-166, was subscribed 151 times.

FIIs turn a bit cautious amid Street euphoria
On Wednesday, FIIs net shorted index futures by a cumulative 1,309 contracts, NSE data show, to hedge their cash positions even as bulls expanded the market range by 500 points to 11,500-12,000 for monthly expiry. The last time FIIs were cumulatively net short by 2,030 contracts was on July 16 when the Nifty closed at 10,740.

FIIs buy Rs 264.66 cr worth of stocks
Net-net, foreign portfolio investors  FPIs) were buyers of domestic stocks to the tune of Rs 264.66 crore, data available with NSE suggested. DIIs were net sellers to the tune of Rs 212.21 crore, data suggests.

FPIs turn net short in index futures
India’s mounting Covid cases and simmering border tensions with China haven’t dissuaded foreign inflows into the cash market. But as an early sign of caution, FIIs have turned net short index futures — Nifty and Bank Nifty — for the first time since July 16. On Wednesday FIIs net shorted index futures by a cumulative 1,309 contracts, NSE data show, to hedge their cash positions even as bulls expanded the market range by 500 points to 11,500-12,000 for monthly expiry. The last time FIIs were cumulatively net short by 2,030 contracts was on July 16 when the Nifty closed at 10,740.