SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 2 points at the opening bell.
On the macro front, India's retail inflation eased to a three-month low in July on the back of softening food prices. The consumer price index (CPI) based inflation cooled to 5.59% in the last month from 6.26% in June, government data released on Thursday showed. Food inflation fell substantially to 3.96% in July from 5.15% in June.
Meanwhile, Industrial activity was affected due to the nationwide Covid lockdown last year in April and May but had picked up June onwards. Industrial output for the month of June rose 13.6%. Factory output, measured by the Index of Industrial Production (IIP) had contracted 16.6% in the same month of last year and rose by 29.3% in May.
Global markets:
Overseas, Asian stocks are trading lower on Friday as the spread of the delta Covid-19 variant and China's regulatory curbs restrained sentiment despite another record high close on Wall Street.
The focus in China remains on Beijing's push to exert more control over a range of industries. In real estate, the nation is suspending private equity funds from raising money to invest in residential property development. Separately, a partial shutdown of a major Chinese port due to a virus outbreak stoked concerns about a repeat of last year's pandemic shipping woes.
In US, the Dow and S&P 500 jumped to record closes for a third straight day on Thursday, with mega-cap technology stocks driving the market higher as investors warmed to jobs data showing a steady U.S. economic recovery.
The Labor Department reported Thursday morning that initial jobless claims declined slightly last week as the U.S. labor market continues its recovery from last year's recession. There were 375,000 claims last week. The prior reading came in at 385,000 claims, but was revised to 387,000.
Domestic markets:
Back home, the domestic equity barometers ended with robust gains on Thursday. The barometer index, the S&P BSE Sensex, advanced 318.05 points or 0.58% to 54,843.98. The Nifty 50 index added 82.15 points or 0.50% to 16,364.40.
Foreign portfolio investors (FPIs) sold shares worth Rs 212.11 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 307.75 crore in the Indian equity market on 12 August, provisional data showed.
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