Stocks may open in green

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 79 points at the opening bell.

As per the data released by the Reserve Bank of India, India's services exports declined 10.2% to US$ 16.77 billion in May 2020 over May 2019. Meanwhile, India's services imports dipped -20.4% to US$ 9.94 billion in May 2020. India's services trade surplus improved 10.4% to US$ 6.83 billion in May 2020 from US$ 6.19 billion in May 2019.

Oil prices fell 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.

 

Overseas, Asian stocks are trading higher 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.

In US, stocks dropped on Thursday, as elevated levels of unemployment claims heightened concerns about the economic toll from rising coronavirus cases.

Congress is reportedly set to begin debating such a package next week, as several states in the South and West implement fresh lockdown measures to curb cases. Meanwhile, the Trump administration is reportedly considering banning travel to the United States by all members of the Chinese Communist Party.

New data from the U.S. Labor Department found 1.3 million people filed for jobless benefits, largely unchanged from the prior week. U.S. retail sales jumped 7.5%.

Back home, amid bouts of volatility, the main equity benchmarks ended near the day's high on Thursday. The barometer S&P BSE Sensex surged 419.87 points or 1.16% at 36,471.68. The Nifty 50 index jumped 121.75 points or 1.15% at 10,739.95.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,091.08 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,659.91 crore in the Indian equity market on 16 July, provisional data showed.

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