Stock Market Today: SGX Nifty flat. Asian markets mixed as investors digest US inflation data, ECB commentary

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Domestic stocks are likely to open on a flat note, despite Wall Street gains overnight. Investors would digest data showing a higher-than-expected 5 per cent rise in US CPI inflation in May and the ECB commentary suggesting it would be “too early and premature” to discuss the tightening of monetary policy.

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SGX Nifty erases gains, up 4 points at 15,779

SGX Nifty signals positive start

Nifty futures on Singapore Exchange traded 27 points, or 0.17 per cent, higher at 15,802.50 in signs that Dalal Street was headed for a positive on Friday.

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Tech View: Nifty50 likely to see consolidation

Nifty50 on Thursday formed an Inside Bar on the daily chart, suggesting the ongoing consolidation in the market. Analysts said the strength in the momentum is unlikely unless the NSE barometer moves above the 15,800 mark. Levels around the 15,650 mark may act as immediate support for the 50-pack, they said.

China’s Shanghai Composite edges higher

The benchmark Shanghai Composite Index gained 0.09 percent, or 3.25 points, to 3614.11, while the Shenzhen Composite Index on China’s second exchange edged up 0.12 percent, or 3.01 points, to 2425.60.

Hong Kong stocks rise at open

Hong Kong stocks opened with gains on Friday morning following a record-breaking lead from Wall Street as investors took a forecast-beating US inflation reading in their stride. The Hang Seng Index rose 0.44 percent, or 126.02 points, to 28,864.90.

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Japan’s key Nikkei index opens flat

Tokyo’s key Nikkei 225 index opened flat on Friday in cautious trade after a modest rally on the Dow on Wall Street. The benchmark Nikkei 225 index was down 2.05 points at 28,956.51 in early trade, while the broader Topix index was down 0.18 percent or 3.48 points at 1,953.25.

US stocks settled higher

The S&P 500 gained 19.63 points to 4,239.18, just beating the index’s previous all-time high set on May 7th. The Dow Jones Industrial Average edged up 19.10 points, or 0.1%, to 34,466.24. The Nasdaq Composite rose 108.58 points, or 0.8%, to 14,020.33. Smaller company stocks lagged the broader market. The Russell 2000 index fell 15.72 points, or 0.7%, to 2,311.41.

Rupee falls for 3rd day, breaches 73-mark against dollar

The Indian rupee furthered its loss by another 9 paise to breach the 73-level against the US dollar on Thursday as stronger greenback weighed on the domestic unit. The local currency traded in a narrow range as investors looked to key US inflation data and European Central Bank meeting later in the day for further cues, forex traders said. At the interbank foreign exchange market, the rupee opened at 72.96 per dollar as against its previous close of 72.97.

Sensex, Nifty on Thursday

Equity benchmarks returned to winning ways on Thursday after two days of declines as investors snapped up financial, pharma and IT stocks amid firm Asian cues. The 30-share BSE Sensex soared 358.83 points or 0.69 per cent to finish at 52,300.47. Intra-day, the index swung between a high of 52,346.35 and a low of 51,957.92. Similarly, the broader NSE Nifty climbed 102.40 points or 0.65 per cent to end at 15,737.75.

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