The domestic markets are likely to open firm, extending the gains of the previous session, following positive Asian cues. Trends on SGX Nifty indicate a positive opening for Nifty, with a 60 points gain. At 07:30 am, the Nifty futures were trading at 10,763, higher by 60 points or 0.6 per cent, on the Singapore Stock Exchange.
Asian markets appear set to open with a firmer tone on Friday, shrugging off an overnight fall in US stocks as the United States prepares to debate fresh economic stimulus to see the country through its coronavirus outbreak.
Australian S&P/ASX 200 futures were up 0.23 per cent in early trading. Japan’s Nikkei 225 futures were up 0.24 per cent, and Hong Kong’s Hang Seng index futures had risen 0.74 per cent.
The S&P 500 dropped on Thursday, pulled lower by Microsoft Corp and Apple Inc, as elevated levels of unemployment claims heightened concerns about the economic toll from rising coronavirus cases.
The Dow Jones fell 0.5 per cent, while the S&P 500 lost 0.34 per cent and Nasdaq Composite dropped 0.73 per cent.
Meanwhile, oil prices fell 1 per cent on Thursday after OPEC+ agreed to ease record supply curbs and as new infections of the novel coronavirus continue to surge in the United States.
Brent fell 42 cents, or 1 per cent, to settle at $43.37 a barrel. U.S. West Texas Intermediate (WTI) crude fell 45 cents, or 1.1 per cent, to settle at $40.75 a barrel.
On the results front, HCL Technologies is set to be in the limelight ahead of its Q1 numbers scheduled later in the day. Expectations would be running high on the counter after the better-than-expected earnings announcements from peers, TCS and Wipro.
On Thursday, the Sensex had ended 420 points higher to close at 36,472 and Nifty climbed 122 points to settle at 10,740, on the back of a 100-per cent rally in Infosys as its June quarter results beat Street expectations.