GIFT Nifty up 14 points: Asian markets, crude oil prices, dollar movement, Flair listing & more

Domestic stock indices are likely to kick off the last month of the calendar on a positive note. Asian stocks were trading mixed in the early trade, even as US stocks surged overnight. Back home, traders will react to exit polls in five states, whose results will be announced over the weekend. Auto companies will share their sales figures for November. The Street will also be looking at the listing of Flair Writing Industries. Here's what you should know before the Opening Bell:

Nifty outlook
VLA Ambala of  Stock Market Today said Nifty formed a 'bullish Pin Bar' candlestick, signalling the beginning of a new impulsive move, hinting at the potential for a significant upward shift in the coming weeks. "Looking ahead to tomorrow, key support levels for Nifty are expected at 20,105 and 20,030, while major resistance points are anticipated at 20,230 and 20,350," she said.

Nifty Bank outlook
Kunal Shah of  LKP Securities said that the Nifty Bank index experienced heightened volatility on the last day of the monthly expiry, navigating a broad trading range. "Facing immediate resistance at 44,700, a level associated with a previous correction, a breakout above this point is anticipated to trigger additional short-covering moves towards 45,000. The lower end support is situated at the 44,300-44,200 zone, acting as a supportive cushion for the bulls," he said.

GIFT Nifty signals a positive start
Nifty futures on the NSE International Exchange traded 14 points, or 0.07 per cent, higher at 20,352.50, hinting at a positive start for the domestic market on Friday.

Asian shares start Dec on cautious note
Asian share markets started the last month of the year on a cautious note after recent strong gains, though growing expectations Europe and the US are poised to cut rates should help ease pressure on local currencies and central banks. The MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.59 per cent. Japan's Nikkei added 0.05 per cent; Australia's ASX 200 dropped 0.39 per cent; New Zealand's DJ shed 0.17 per cent; China's Shanghai fell 0.26 per cent; Hong Kong's Hang Seng declined 0.24 per cent; South Korea's Kospi tanked 0.92 per cent.

Oil prices extend recent slide

Oil prices fell in early Asian trade on Friday, extending losses after OPEC+ producers agree to voluntary oil output cuts for the first quarter next year that fell short of market expectations. Brent crude futures for February fell 14 cents, or 0.2 per cent, to $80.72 a barrel by 0005 GMT. US West Texas Intermediate crude futures fell 12 cents, or 0.2 per cent, to $75.84.

Dollar eases as traders weigh rate cut
The dollar was on the back foot on Friday, while the euro nursed steep losses as traders weighed data that showed inflation was easing, stoking expectations that interest rates had peaked and central banks would soon start cutting rates. The dollar index was 0.145 per cent lower at 103.30. The euro was up 0.13 per cent at $1.0902. Sterling was last at $1.2643, up 0.17 per cent on the day. The Japanese yen strengthened 0.31 per cent to 147.73 per dollar

US stocks settle higher
The Dow Jones Industrial Average closed at its highest level since January 2022 as investors crossed the finish line of a banner month for stocks and viewed cooling inflation data as a harbinger of easing Federal Reserve monetary policy. The Dow Jones Industrial Average rose 520.47 points, or 1.47 per cent, to 35,950.89, the S&P 500 gained 17.22 points, or 0.38 per cent, at 4,567.8 and the Nasdaq Composite dropped 32.27 points, or 0.23 per cent, to 14,226.22.

Flair Writing to make market debut today
Shares of Flair Writing Industries will make its Dalal Street debut on Friday, December 1. Flair Writing sold its IPO in the range of Rs 288-304 apiece with a lot size of 49 shares between November 22 and November 24. The stationary products player raised a total of Rs 593 crore via IPO route. The issue was overall subscribed a strong 49.28 times during the three-day bidding process.

Stocks in F&O ban list
Since it is the beginning of the new series, no stocks have been put under the F&O segment ban by the National Stock Exchange (NSE) for Friday, December 1. Companies where derivative contracts cross 95 per cent of the market-wide position limit are put under ban in the F&O segment.

FPIs buy worth Rs 8,148 crore
Provisional data available with NSE suggest that FPIs were net buyers of domestic stocks to the tune of 8,147.85 crore on Thursday. On the other hand, domestic institutional investors (DIIs) turned net sellers of Indian equities to the tune of Rs 780.32 crore. Overseas investors pumped more than Rs 9,000 crore in the Indian equities in the month of November.

Rupee falls 5 paise against dollar
The rupee on Thursday snapped a two-day rising streak to settle 5 paise lower at 83.37 against the US dollar amid strengthening American currency overseas and rising crude oil prices. Forex analysts said the rupee remained under pressure as crude prices were close to USD 84 per barrel ahead of the announcement of the annual production target by oil producer grouping OPEC+.

Note: With inputs from PTI, Reuters and other agencies

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