The Indian equity benchmarks are set to open higher as indicated by the Nifty Futures on Singapore Exchange. The Nifty Futures on Singapore Exchange also known as SGX Nifty Futures rose 43 points to 17,969 amid positive cues from global markets. Asian share prices advanced on Friday as a shock from a surprisingly strong U.S. inflation reading ebbed, with investors now hopeful that the worst price hikes could be soon over.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.7 per cent to reach its highest level in two weeks while Japan’s Nikkei gained 1.1 per cent, helped by brisk earnings.
U.S. stock futures were up about 0.3 per cent after a mixed session on Thursday when the S&P 500 ended 0.06 per cent higher while tech-heavy Nasdaq rose 0.52 per cent.
The world’s stock prices posted their biggest fall in over a month on Wednesday following a surprisingly strong reading on U.S. inflation.
Back home, foreign institutional investors sold shares worth Rs 1,637 crore on Thursday while domestic institutional investors bought shares worth Rs 446 crore.
Tata Steel will be in focus after its profit jumped nearly 8 times to Rs 11,918 crore compared with Rs 1,565 crore in the same period last year.