The benchmark indicfes are likely to open lower this morning following global cues after fresh wave of China-US trade tension and Beijing's move to impose new national security legislation on Hong Kong. Trends on SGX Nifty indicate a negative opening for the index in India with a 40 points loss. The Nifty futures were trading at 9,040, lower by 40 points or 0.4 per cent, on the Singapore Stock Exchange around 07:30 am.
Asian markets traded lower on Friday morning as tensions between the US and China rose further. Shanghai composite was down 0.4 per cent while Nikkei 225 slipped 0.22 per cent in morning trade. Topix index was 0.27per cent lower and Kospi fell 0.85 per cent.
Wall Street ended lower on Thursday, a day after hitting two-month highs, on a fresh wave of China-US tensions that raised doubts about the trade deal reached early this year between the world's two largest economies.
The Dow Jones Industrial Average fell 0.41 per cent, S&P 500 lost 0.78 per cent and Nasdaq Composite dropped 0.97 per cent.
Meanwhile, oil prices were on the rise on Friday, heading for a fourth straight week of gains, amid more evidence that fuel demand is recovering as countries ease business and social restrictions that were imposed to counter the coronavirus pandemic.
Brent crude was up 14 cents, or 0.4per cent, at $36.20 a barrel by 0040 GMT, after gaining nearly 1per cent on Thursday. West Texas Intermediate crude was up 5 cents, or 0.2per cent, at $33.97 a barrel, having gained more than 1per cent in the last session.
In stock-specific news, Reliance Industries is again in the news after US private equity giant KKR & Co. bought a 2.32 per cent stake in the digital unit Reliance Industries for Rs 11,367 crore. This is the fifth deal Reliance has struck in four weeks for sale of minority stake in Reliance Jio.
RBI Governor Shaktikanta Das to hold a press conference at 10 am today.
The Sensex had ended 114 points or 0.37 per cent higher at 30,932.90 and Nifty 50 index had advanced 0.44 per cent or 40 points to close at 9,106.25.