The Indian equity benchmarks are set to open lower as indicated by the Nifty Futures traded on the Singapore Exchange. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures rose 7 points to 17,887 amid weak cues from global markets. Asian shares and US stock futures slipped on Friday, as Amazon and Apple quarterly earnings bucked a recent strong trend and growth and inflation fears continued to weigh. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3 per cent in early trading and was on track for a weekly loss of 1.3 per cent, snapping three weeks of gains. Japan's Nikkei reversed early losses to trade flat.
Asian shares were weighed by a fall in Nasdaq futures, which lost 0.73 per cent as Apple Inc and Amazon Inc posted results after the close that missed expectations.
Chinese shares fell less than most other markets, with local blue chips trading flat, though the Hong Kong benchmark lost 0.83 per cent, once again weighed by mainland Chinese property stocks.
Overnight, Global equities moved toward record highs on Thursday and U.S. Treasury yields rose as investors discounted weak U.S. economic growth data to retain their focus on strong corporate results and interest rate expectations amid rising inflation.
All three major U.S. stock indexes ended the day's session higher, with the S&P 500 and Nasdaq boasting record closing levels thanks partly to gains by Apple Inc and Amazon Inc. Both companies posted results after the close that missed expectations, however.
Back home, foreign institutional investors sold shares worth Rs 3,818.51 crore on Thursday while foreign institutional investors bought shares worth Rs 836.6 crore.
DLF, Sagar Cements, Motilal Oswal Financial Services, NTPC, DLF, RBL Bank, Reliance Infra, Adani Total Gas, Tata Power and InterGlobe Aviation will react to their September quarter earnings posted after the market hours on Thursday.
Infosys will be in focus after the company entered into an agreement with energy giant BP to develop and pilot an energy as a service (EaaS) solution, which will aim to help businesses improve the energy efficiency of infrastructure, and help meet their decarbonization goals.