Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 46 points at the opening bell.
Overseas, most Asian markets were trading higher as Wall Street sailed to an all-time high overnight.
In US, stock indexes closed at new record highs on the first trading day of 2020 after a move by China's central bank aimed at stimulating the country's economy.
China's central bank announced that it would reduce the portion of deposits its commercial banks are required to set aside as reserves. The 0.5-percentage-point cut in the reserve requirement ratio by the People's Bank of China will inject more than 800 billion yuan ($114.9 billion) into the financial system.
On economic front, the number of people applying for first-time jobless benefits in the week ended 28 December slipped to 222,000.
The US IHS Markit manufacturing purchasing managers final index for December slipped to 52.4 below the 52.6 reading notched in November.
Back home, the market ended with sharp gains on Thursday, backed by encouraging domestic cues and supportive global stock markets. Positive data such as GST revenue collection crossing Rs 1 lakh crore in December and Indian manufacturing PMI hitting 7-month high in December triggered a broader rally. The barometer index, the BSE Sensex, rose 320.62 points or 0.78% to 41,626.64. The Nifty 50 index rose 100.45 points or 0.82% to 12,282.95, its record closing high.
The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 688.76 crore yesterday, 2 January 2020, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 63.95 crore, yesterday, 2 January 2020, as per provisional data.
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