The Nifty futures were trading lower by 0.9 per cent on Singapore Stock Exchange
The markets are expected to open lower, a day after closing at four-week highs, following weak cues from the global front. The US markets ended in the red and Asian markets also traded in the negative territory. Trends on SGX Nifty indicate a gap-down opening for the index in India. The Nifty futures were trading at 9,358, lower by 101 points or 0.9 per cent on the Singapore Stock Exchange around 7:30 am. Asian shares were in negative territory in early trading as worries about worsening US-China ties offset the fillip from hopes massive government stimulus can jump-start the world economy.
E-Mini futures for the S&P 500 edged lower by 0.12 per cent in early Asian trade, while Nikkei futures pointed to a loss of 10 points. Weaker Australian stock futures also indicated a softer opening.
Wall Street ended lower on Thursday following a late-session reversal, with Facebook weighing on the market after President Donald Trump said he would sign an executive order related to social media companies and would hold a news conference on China on Friday.
The Dow Jones Industrial Average fell 0.58 per cent, the S&P 500 lost 0.21 per cent and Nasdaq Composite dropped 0.46 per cent.
Meanwhile, oil prices edged lower on Friday after US inventory data showed lacklustre fuel demand in the world’s largest oil consumer while worsening US-China tensions weighed on global financial markets.
Brent crude slipped 36 cents, or 1 per cent, to $34.93 a barrel by 0106 GMT and US West Texas Intermediate crude was at $33.20 a barrel, down 51 cents, or 1.5 per cent.
The National Statistical Office (NSO) will release GDP data for the quarter ending March 2020 this evening. Analysts would await the macroeconomic data for more clarity on the economic damage caused by the coronavirus pandemic.
The Sensex had closed 595 points, or 1.88 per cent, higher at 32,200.59 while Nifty had settled 175 points, or 1.88 per cent, up at 9,490.10 in the previous session.
