The domestic stock markets are likely to open in the green, going by early indications from trading in SGX Nifty futures. Trends on SGX Nifty indicate a positive opening for the Nifty, with a 23-point gain. At 7:30 am, the Nifty futures were trading at 15,837, higher by 23 points or 0.13 per cent, on the Singapore Stock Exchange.
Shares in Asia-Pacific were lower in Friday morning trade as investors monitor Chinese tech stocks in Hong Kong after regulatory concerns resurfaced. South Korea's Kospi sat below the flatline in early trade. In Australia, the S&P/ASX 200 shed 0.18 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan traded lower by 0.07 per cent.
US stock markets closed higher after a mixed trading session as investors digested negative economic data reflecting the country's struggle to move past the COVID-19 pandemic, while yields on safe-haven assets such as US Treasuries slipped.
The Dow Jones rose 25.35 points, the S&P 500 gained 8.79 points and Nasdaq Composite added 52.64 points.
On the earnings front, Reliance Industries, Ambuja Cements, JSW Steel, Federal Bank, United Spirits and Yes Bank will declare their June quarter numbers during the day.
Meanwhile, Zomato will make its debut on the bourses today i.e. July 23. The listing has been advanced from July 27.
On Thursday, the Sensex had closed 639 points, or 1.22 per cent, higher at 52,837.21 and the Nifty had settled at 15,824.05, up 192 points or 1.23 per cent.
Meanwhile, oil prices slipped on Thursday after an unexpected rise in U.S crude oil inventories and as rising Covid-19 infections threaten demand, but prices held on to most of their gains from the previous session on expectations that supplies will remain tight through year-end.
Brent crude fell 11 cents, or 0.2 per cent, to $72.12 a barrel and U.S West Texas Intermediate (WTI) crude fell 6 cents, or 0.1 per cent, to $70.24 a barrel.