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Domestic equities looked set for a weak start on Friday. Nifty futures traded with mild cuts on the Singapore Exchange, even as most of other Asian markets either slipped or held steady.
Here is breaking down the trade setup.
STATE OF THE MARKETS
Nifty futures signal weakness
Nifty futures on the Singapore Exchange traded 19 points lower at 7 am (IST) in signs of a possible trend reversal
Asian markets mixed
In early trading on Friday global markets were holding steady or slipping a bit as investors looked over mixed data and watched for the next catalyst. Stocks traded with little fanfare as holidays across Asia curbed trading. Early gains fizzled for shares in Japan and Australian stocks slipped. Markets in Greater China and most of Southeast Asia are closed on Friday for the Lunar New Year holiday.