8:29 am F&O cues: Maximum call open interest (OI) of 57.98 lakh contracts stands at strike price 11,100, which will be a resistance for the February series, followed by 11,000, which now holds 51.91 lakh contracts in open interest, and 10,700, which has accumulated 34.44 lakh contracts in OI.

Call writing was seen at the strike price of 10,900, which saw the addition of 2.58 lakh contracts along with 11,100, which added 2.37 lakh contracts.

Call unwinding was seen at the strike of 10,600, which shed 4.6 lakh shares, followed by 11,000 which shed 3.4 lakh contracts and 10.800 which shed 2.27 lakh shares.

8:15 am US 10-year bond yields: “US 10-year bond yields have touched 4-year high of 2.85% and are likely to breach psychologically important level of 3%. This has led to a sharp 500 plus point plunge in DOW as of now. And this is happening when the US FED hasn’t even started unwinding meaningfully it’s bloated balance sheet- Global Central banks have bought around USD 16 trillion of bonds to stabilise financial markets and kickstart growth post 2008 crisis, said Ajay Bodke, CEO & Chief Portfolio Manager PMS Prabhudas Lilladher.

“Trump’s USD 1 trillion infra build-up plan would add to worries about US fiscal deficit putting additional pressure on bond yields. Lastly, record-low jobless rate and high capacity utilization (or low slack) in the US economy has sparked worries about wages-led inflationary pressures forcing FED to slam the brakes by rapidly increasing interest rates.”

“Whispers of leveraged ETFs (triple or double leveraged) and ETNs lurking in the wings to trigger massive volatility and play a role akin to that played by leveraged mortgage backed securities (MBS) and other complex derivatives before Lehman crisis has started doing the rounds. As an equity investor, I think it’s time to be extremely vigilant,” he added.

8:10 am Gold prices surge: Gold prices edged up on Friday, recovering from more than one-month lows as tumbling equities markets pushed investors into safe-haven assets, but a firmer dollar and worries about rising global interest rates kept gains in check, report CNBC.

8:00 am Crude Check: US oil prices fell for a sixth day on Friday after Iran announced plans to boost production and US crude output hit record highs, adding to concerns about a sharp rise in global supplies.

The falls come amid a rout in global share markets as inflation fears grip investors, report CNBC.

7:50 am: The SGX Nifty is trading at 10,340.50, down 220.50 points.

7:45 am Asian shares plunge: Asian shares took a tumble early on Friday, taking cues from US indexes which extended sharp losses in the last session, reports CNBC. Japan’s Nikkei 225 fell 2.95% in early trade, with losses seen in most sectors.

Indian Indices are set to open sharply lower on the back of weak gloabal cues.

7:30 am US markets slip 4%: On Thursday US stocks plunged around 4 percent in another dramatic session, confirming a correction that has thrown the market’s nearly nine-year bull run off course.

The Dow Jones Industrial Average fell 1,032.89 points, or 4.15 percent, to 23,860.46, the S&P 500 lost 100.66 points, or 3.75 percent, to 2,581 and the Nasdaq Composite dropped 274.83 points, or 3.9 percent, to 6,777.16.