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Asia

Asian equities declined on Friday following significant sell-offs on Wall Street, as traders contended with disappointing Nvidia Corp. results, additional information on U.S. tariffs, and mixed economic data. Gift Nifty suggests a negative opening for Indian markets.

US & Europe

The S&P 500 declined during a turbulent session following President Donald Trump's announcement that tariffs on Canada and Mexico would continue as planned, coupled with a negative turnaround in Nvidia's stock after its earnings report. European markets were broadly lower on Thursday after President Trump reiterated his threat to impose 25% tariffs on imports from the European Union on Wednesday.

Commodities

Oil prices increased by over 2% on Thursday due to renewed supply concerns after U.S. President Donald Trump revoked a license granted to Chevron (CVX.N) to operate in Venezuela. Meanwhile, gold prices fell to their lowest level in more than two weeks yesterday as the U.S. dollar strengthened, with investors anticipating key inflation data that could provide insights into the Federal Reserve's monetary policy direction.

* Events today: US Fed balance sheet/ Baker Hughes oil rig count, India budget value/ core sector output/ FX reveres/ GDP growth rate.

* Ex-date: PFC (Dividend), JIndal Worldwide (Bonus), Oasis securities (Split)

* Tata Power's solar manufacturing subsidiary, TP Solar, has received a Rs 632 crore contract from the Solar Energy Corporation of India (SECI) for the supply of 292.5 MWp DCR (Domestic Content Requirement) solar modules.

* Transrail Lighting has secured new orders worth Rs 2,752 crore, primarily in the transmission and distribution business.

* GE Power India has received an additional contract worth Rs 273.5 crore from Greenko KA01 IREP.

* RVNL has received a letter of acceptance for a project worth Rs 135.66 crore from Central Railway

Nifty Outlook

Parallel consolidation continued yesterday as well, with expiry surprisingly failing to trigger break out moves. Oscillators do show positive divergence, supporting upswing theories, potentially aiming the 22620-730 region initially. But as maintained all this week, we will wait for 22950 to be conquered, as a confirmation of strength. Downside marker can continue to be in the 22500 vicinity, while deeper support is seen at 22300.

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