Domestic stock markets are likely to start Friday’s session on a positive note, tracking mild gains across Asian equities as worries about a faltering economic recovery kept investors to the sidelines. The Singapore Exchange (SGX) Nifty futures – an early indicator of the National Stock Exchange (NSE) Nifty 50 benchmark index – rose 26 points (0.23 per cent) to climb to as high as 11,553.00 ahead of the opening of Indian markets. At 8:47 am, the SGX Nifty futures traded 18.80 points – or 0.16 per cent – higher at 11,545.80.
Shares elsewhere in Asia moved higher cautiously, with MSCI’s broadest index of Asia-Pacific shares outside Japan last seen trading up 0.25 per cent, and set to end the week with a gain of more than 1 per cent ahead following two weeks of technology stocks-led losses.
Japan’s Nikkei 225 benchmark was up 0.03 per cent at the time.
The E-Mini S&P 500 futures traded 0.10 per cent lower, indicating a sluggish start for Wall Street on Friday, a day after the benchmark S&P 500 index fell 0.84 per cent following official data showing high levels of weekly jobless claims.
On Thursday, the S&P BSE Sensex index had dropped 323.00 points – or 0.82 per cent – to end at 38,979.85, and the broader NSE Nifty 50 benchmark settled at 11,516.10, down 88.45 points – or 0.76 per cent – from its previous close, as both indices receded from nearly three-week highs registered the previous day.