Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 11 points at the opening bell.
India's retail inflation stood at 6.93% for the month of July as against 6.23% in the month-ago period, data released yesterday showed. The consumer price index (CPI)-based inflation rate for June has been revised from 6.09% to 6.23%.
Overseas, Asian stocks are trading mixed on Friday as investors remained cautious after U.S. lawmakers seemed unable to move forward with a coronavirus stimulus bill.
In US, stocks closed on mixed note on Thursday as traders digested better-than-expected unemployment data and monitored the stalemate in stimulus negotiations.
Lawmakers in the United States appear to be at an impasse over the next round of coronavirus aid and an agreement on legislation and passage of a bill looks to be weeks away.
U.S. House Speaker Nancy Pelosi has said she will not restart talks with Republicans on the matter until they increase their aid offer by $1 trillion. White House economic advisor Larry Kudlow reportedly said that the administration and Democrats were at a stalemate.
On the macro front, the number of Americans seeking unemployment benefits dropped below one million last week for the first time since the start of the COVID-19 pandemic in the United States. Initial claims for state unemployment benefits totalled a seasonally adjusted 963,000 for the week ended August 8, compared to 1.191 million in the prior week, the Labor Department said on August 13. That was the lowest level since mid-March when authorities started shutting down the non-essential businesses to slow the spread of coronavirus.
Back home, the domestic equity benchmarks ended with small losses on Thursday. Trading was volatile due to weekly expiry of index options. The S&P BSE Sensex, fell 59.14 points or 0.15% at 38,310.49. The Nifty 50 index lost 7.95 points or 0.07% at 11,300.45.
Foreign portfolio investors (FPIs) bought shares worth Rs 416.28 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 763.54 crore in the Indian equity market on 13 August, provisional data showed.
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