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ASIA

After US equities dropped from all-time highs, Asian stocks moved in narrow ranges as a dismal outlook from the biggest retailer in the world heightened worries about the state of the economy. Gift Nifty suggests a negative opening for Indian markets.

US & EUROPE

US stocks fell on Thursday as investors unloaded some well-known companies after Walmart, gave a poor prediction that raised concerns about the state of the economy. In the midst of the most recent rush of earnings reports, European stock markets ended Thursday's trading day lower.

COMMODITIES

Data showing a decline in gasoline and distillate in the United States, together with concerns about supply interruptions in Russia, helped oil prices rise for a three-day increase on Thursday. Gold price rose to record highs on safe-haven demand for the precious metal spurred by worries of a worldwide trade war initiated by U.S. President Donald Trump's tariff threats.

* Events today: Fed balance sheet, Japan inflation rate, Japan/ India/ EA/ UK/ US manufacturing PMI flash, UK retail sales, US existing home sales, China FDI.

* Exchange debut: Indef Manufacturing, Quality Power Electrical Equipments (NSE/BSE)

* Ex-date: Manappuram FIn, BBTC, FSL, Modison, SJVN (Dividend)

* Delta Corp to sell Adda52 parent firm to A23 owner Head Digital Works for Rs 491 crore.

* HG Infra has transferred its 100% equity stake in its subsidiary Rewari Bypass to Highways Infrastructure Trust for Rs 133 crore.

* Ganesh Infraworld has received a turnkey contract worth Rs 129.8 crore for water management and civil works at various projects in Kolkata.

Nifty Outlook

Caution remains the dominant theme, but favoured view is yet to see enough signs of a downside break aiming 21800-21300 right away. Our bets are on atleast one more day seeing attempts to swing higher, aiming 23150-220, before a stronger directional move on either side prevails.

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