Mixed signals from overseas, overnight and early morning today, are keeping the BSE Sensex volatile in early trade on Friday.
US crude oil futures fell at the prospect of additional supply from Iran, belying hopes raised by their first significant gain of the year in the previous session.
The Asian markets however started on a high note today. The Wall Street, too, ended 1.4% higher, after a dizzy start yesterday. The European markets however mostly ended in the red yesterday, led by the UK’s FTSE 100 index, which closed 0.7% down.
The rupee, which has been flirting with the lows of 2013, will be watched keenly.
At 8.15 AM IST, Japan’s NIKKEI 225 was trading at 17338, 0.61% up.
Shanghai Composite is trading in the red -- 1.02% down after a good opening session. The Hang Seng, too, had opened in green before falling 0.7%.
It is the results season in India. HUL is scheduled to disclose its numbers in Mumbai today.
Stocks of sugar companies may see some interest today, with the government announcing cane price arrears have fallen to Rs 2,700 crore from Rs 21,000 in the 2014/15 sugar season, hinting at improved cash flows of sugar mills.
On the macro front, the ministry of commerce and industry will declare the Balance of Trade data today. India’s exports declined for the 12th straight month last month.