The Nifty SGX futures were trading with a loss of 124 points at 9,182 around 7:30 am.
Domestic equity markets are likely to open in the negative, snapping a two-day winning streak, on the back of weak cues in the global markets. The Singapore Exchange (SGX) Nifty futures and early activity in the Asian equities pointed to a soft start to the Indian markets. At 7:30 am, the Nifty futures traded down 124 points at 9,182 on the SGX. Asian markets declined after an overnight report raised doubts over a potential coronavirus treatment. Japan's Nikkei 225 index shed 0.99 per cent and South Korea's Kospi index was last seen trading 0.82 per cent lower.
The US markets had ended mixed overnight. While the Dow Jones Industrial Average ended 0.17 per cent higher, the S&P 500 and Nasdaq Composite indices lost 0.05 per cent and 0.01 per cent respectively.
Crude oil prices rose, gaining further ground as some producers such as Kuwait said they would move to cut output swiftly to try to counter the evaporation in global demand for fuels caused by the coronavirus pandemic.
Brent crude - the global benchmark for crude oil - was last seen up 2.8 per cent at $21.93 a barrel, having climbed 5 per cent on Thursday. US oil gained 66 cents, or 4 per cent at $17.16 a barrel, after surging 20 per cent in the previous session.
On Thursday, the Sensex had closed 484 points, or 1.54 per cent, higher at 31,863.08, and the Nifty settled 127 points, or 1.38 per cent, up at 9,313.90.
