Markets Likely To Have A Muted Opening

The markets are set to have a quiet start on the last day of the week, in line with flat trends on Asian bourses and subdued indications from SGX Nifty

Markets Likely To Have A Muted Opening

Nifty futures were trading with loss of around 14.5 points at 12,357 on Singaporean Exchange

The markets are set to have a quiet start to the last day of the week in line with the flat start on the Asian bourses and subdued indications from SGX Nifty. At 8.30am, SGX Nifty Trends indicate a marginally negative opening on Dalal Street. The Nifty futures were trading with a loss of around 14.5 points or 0.12 per cent at around 12,357 on the Singaporean Exchange.

Asian shares inched higher on Friday; MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.19% and Japan's Nikkei added 0.55%. But investors will be closely watching key Chinese economic data for clues on whether its slowdown is starting to bottom out.

Overnight, Wall Street rallied to fresh record highs with the S&P 500 topping the 3,300 mark for the first time on Thursday, driven by a slew of strong earnings reports, economic data and continued optimism after Beijing and Washington inked the highly anticipated phase-one trade deal.

The Dow Jones jumped 267.42 points, or 0.92 per cent, to close at 29,297.64, Nasdaq Composite Index advanced 98.44 points, or 1.06 per cent, to 9,357.13 and S&P 500 increased 27.52 points, or 0.84 per cent, to 3,316.81.

Oil prices were steady on Friday as investors braced for data expected to show China's economic growth last year slid to its slowest pace in 29 years, holding on to gains for now after Washington and Beijing inked a long-awaited trade deal.

In stock-specific news, market heavyweights Reliance Industries and TCS would be announcing their financial results later in the day.

S&P BSE Sensex and NSE Nifty had ended flat on Thursday after hitting record highs earlier in the day. The Sensex had surpassed 42,000 for the first time and the Nifty had touched a new record high of 12,389.05. However, the Sensex ended 0.14 per cent or 60 points higher at 41,933 and the NSE Nifty 50 index advanced 0.1 per cent or 12 points to close at 12,356.

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