GIFT Nifty up 21 points: Asian markets, crude oil prices, dollar movement & more

Domestic equity markets are set to slightly higher on Friday, amid the mixed global cues. US stocks settled sharply lower in the overnight trade, while Asian stocks were trading mixed in the early hours. Economies of China and the US will guide the global equities in the near term. Weakness in the Indian currency may trigger another bout of FIIs selling, which may weigh on headline indices. Here's what you should know before the opening bell:Nifty outlook Technically, the market is consistently facing selling pressure near the 19,480 level while regularly taking support near 19,320. In addition, on daily charts, the index has formed a bearish inside candle which indicates that non-directional activity is likely to continue in the near future, said Shrikant Chouhan, Head of Research (Retail), Kotak Securities.   "We are of the view that, 19,320 could be the sacrosanct support zone for the market, below which, the index could slip till 19,250-19,200, while any fresh uptrend rally is possibly only after the dismissal of 19,480. Above the same, the market could move up till 19,535-19,585," he said.GIFT Nifty signals a positive start Nifty futures on the Nifty International Exchange traded 21 points, or 0.11 per cent, up at 19,303.50, hinting at a positive start for the domestic market on Friday.Asian stocks trade mixed in early trade Asian markets were trying to find a firmer footing on Friday after a rough week, hammered by concerns about China's ailing economy and fears of US rates staying higher for longer as long-term bond yields surged. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.05 per cent. Japan's Nikkei shed 0.12 per cent; Australia's ASX 200 gained 0.12 per cent; New Zealand's DJ plunged 0.63 per cent; China's Shanghai added 0.17 per cent; Hong Kong's Hang Seng dropped 0.53 per cent and South Korea's Kospi slid 0.29 per cent.Oil prices nudge lower Oil prices looked set to snap a seven-week winning streak on Friday as concerns about demand growth in China as its economy slows, and the possibility of higher for longer US rates triggered losses. Major benchmarks were little changed on Friday, with the US West Texas Intermediate crude up 10 cents, or 0.1 per cent, at $80.49 a barrel, while Brent crude was flat at $84.12 a barrel.Dollar manages to hold gains In currency markets, the dollar lost some of its shine on Friday, but still managed to hold recent gains after hitting a six-week top. The Japanese yen regained posture, up 0.3 per cent to 145.35 per dollar, having been hammered this week to a nine-month low of 146.56 per dollar. The euro wallowed near its five-week low at $1.0876, down 0.6 per cent for the week, while the risk sensitive Australian dollar broke a key support level overnight and was last at $0.6417.US stocks settle lower Wall Street's main indices closed lower after choppy trading on Thursday as losses in healthcare stocks eclipsed gains in Cisco and energy stocks, while upbeat economic data kept alive fears of interest rates remaining higher for longer. The S&P 500 lost 33.97 points, or 0.77 per cent, to 4,370.36 and the Nasdaq Composite dropped 143.75 points, or 1.07 per cent, to 13,330.88. The Dow Jones Industrial Average fell 290.91 points, or 0.84 per cent, to 34,474.83.Stocks in F&O ban As many as 10 stocks have been put under the F&O segment ban by the National Stock Exchange (NSE) for Thursday, August 17. Hindustan Copper, SAIL, Gujarat Narmada Valley Fertilizers and Chemicals (GNFC), Chambal Fertilisers & Chemicals, Delta Corp, Indiabulls Housing Finance, Granules India, Indiabulls Housing Finance, India Cements, Punjab National Bank and Zee Entertainment Enterprises have been put under ban. Derivative contracts in a security are banned when it crosses 95 per cent of the market-wide position limit (MWPL). No new positions can be created in the derivative contracts of said security. This prohibition is lifted when the open interest in the stock drops below 80 per cent of the MWPL across exchanges.FPIs sell shares worth Rs 1,511 cr Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 1,510.86 crore on Thursday. However, domestic institutional investors (DIIs) turned net buyers of Indian equities to the tune of Rs 313.97 crore.  Rupee falls 1 paisa to hit new all-time low The rupee pared its initial gains and settled for the day lower by 1 paisa at a fresh all-time low of 83.09 against the US dollar on Thursday, weighed down by a strong greenback overseas and a negative trend in domestic equities. Forex traders said rupee is likely to trade with a negative bias on risk aversion in global markets and rising US dollar. Note: With inputs from PTI, Reuters and other agencies

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