Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 3.50 points at the opening bell.
Overseas, Asian shares were mixed on Friday, following the US Federal Reserve's dim outlook for the global economy.
US stocks closed higher Thursday a day after the Federal Reserve signaled that it was unlikely to raise interest rates this year amid worries over slowing economic growth.
On Wednesday, the US Fed said it does not expect to raise rates at all in 2019. The central bank had forecast at least two rate hikes for this year back in December. The Fed added that it expects to end its balance-sheet reduction process by the end of September. The US central bank, however, lowered its economic growth forecast for 2019, raising concerns over a possible slowdown in the economy.
On the trade front, US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will visit China on March 28-29 for more discussion on trade, while Chinese Vice Premier Liu He will travel to Washington early next month to continue the negotiations.
Meanwhile, the European Union proposed an extension of the Brexit deadline to May 22 on the condition that the UK Parliament support Prime Minister Theresa May's withdrawal deal, which will be put to vote next week.
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On the US data front, the Labor Department said the number of laid-off workers who applied for first-time unemployment benefits fell by 9,000 in the week ended March 16 to 221,000a one-month low.
The Philadelphia Fed's business activity index rebounded in March to a seasonally adjusted reading of 13.7 from -4.1 the previous month. A reading above zero indicates improving conditions. The Conference Board's leading economic index rose 0.2% in February, its first uptick since September.
Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 1771.61 crore on 20 March 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 1323.17 crore on 20 March 2019, as per provisional data.
The barometer index, the S&P BSE Sensex, settled with small gains while the Nifty 50 index registered small losses on Wednesday, 20 March 2019. The Sensex extended gains for eight straight trading session. The Nifty snapped seven-day rising trend. The barometer index, the S&P BSE Sensex, rose 23.28 points or 0.06% to 38,386.75. The Nifty 50 index fell 11.35 points or 0.10% to 11,521.05. Domestic stock markets was closed on Thursday, 21 March 2019, on account of Holi.
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