The domestic stock markets are likely to have a flat opening, post the 1 per cent upmove on Thursday, as world markets pulled back from record highs amid renewed doubts about a highly-anticipated coronavirus vaccine and concerns surrounding economic impact of the Covid19 pandemic. Trends on SGX Nifty indicate a flat opening for the index in India, with a 2-points gain. At 7:30 am, the Nifty futures were trading at 13,047, higher by a mere two points on the Singapore Stock Exchange.
The market participants will await the official data on the country's gross domestic product (GDP), due to be released after market hours, for near-term triggers.
Asian shares fell slightly on Friday; MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.07 per cent. Australian shares were down 0.15 per cent and Japan's Nikkei fell 0.09 per cent.
The US markets were shut on Thursday account of Thanksgiving day.
Meanwhile, oil prices were mixed on Friday in quiet trade due to the U.S. Thanksgiving holiday, with West Texas Intermediate (WTI) dropping more than 1 per cent amid concerns about oversupply and doubts about a vaccine to end the coronavirus pandemic.
WTI was down by 69 cents, or 1.5 per cent, at $45.02 by 0104 GMT. U.S. crude prices did not settle on Thursday due to the holiday. Brent crude was up by 9 cents at $47.89, having fallen 1.7 per cent overnight.
On Thursday, the benchmark indices had resumed their upmove after a day's pause, with the Sensex rising 432 points or 0.98 per cent to close at 44,260 and Nifty 50 index surging 129 points or 1 per cent to settle at 12,987.