SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 8 points at the opening bell.
Global markets:
Overseas, Asian stocks are trading mixed on Friday as investors monitored Chinese tech stocks in Hong Kong after regulatory concerns resurfaced. Markets in Japan are closed on Friday for a holiday.
As per reports, Beijing is considering harsh penalties on ride-hailing giant Didi. The penalties being planned range from a fine likely bigger than the record $2.8 billion Alibaba paid earlier this year to even a forced delisting after Didi's IPO last month.
Tech shares led U.S. stocks higher Thursday, despite an unexpected jump in jobless claims that resurfaced some concerns about the economy and sent bond yields lower. Investors jumped back into their favorite tech stocks as optimism about the sector grows ahead of big earnings reports next week for some of the largest names in the space.
Stocks were under pressure earlier in the day after jobless claims unexpectedly rose to 419,000, more than the upwardly revised 368,000 from the previous period.
Meanwhile, the European Central Bank on Thursday said interest rates would stay at their current record low levels until it sees inflation durably reaching the bank's new target of 2%. The 25-member governing council expects the key ECB interest rates to remain at their present or lower levels until it sees inflation reaching 2% well ahead of the end of its projection horizon and durably for the rest of the projection horizon, the bank said in a statement, adding that this may also imply a transitory period in which inflation is moderately above target.
Domestic markets:
Back home, the equity benchmark indices ended with robust gains on Thursday. The barometer index, the S&P BSE Sensex, soared 638.70 points or 1.22% at 52,837.21. The Nifty 50 index added 191.95 points or 1.23% at 15,824.05.
Foreign portfolio investors (FPIs) sold shares worth Rs 247.59 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 942.55 crore in the Indian equity market on 22 July, provisional data showed.
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