At 7:30 am, the Nifty futures were trading higher by 0.1 per cent on Singapore Stock Exchange.
The stock markets are likely to open in the green, extending the gains witnessed in the past six consecutive sessions, following positive global cues. Trends on SGX Nifty indicate a positive opening for the index in India, with a 17-points gain. At 7:30 am, the Nifty futures were trading at 11,866, higher by 17 points or 0.1 per cent, on the Singapore Stock Exchange.
The Shaktikanta Das-led Reserve Bank of India (RBI) is set to announce its policy decision at 10:00 am at the end of three-day monetary policy committee (MPC). The RBI's six-member panel has three new external members, whose delayed appointment by the government had forced the central bank to delay its bi-monthly review originally scheduled for September 29-October 1.
Asian shares were set to track Wall Street gains on Friday as revived hopes for a U.S. stimulus deal helped investors overlook weaker-than-expected jobs data and growing global coronavirus cases.
Futures for the S&P 500 rose 0.44 per cent, Australia's S&P ASX 200 futures were 0.20 per cent higher and Japan's Nikkei 225 futures added 0.32 per cent in early Asia.
U.S. stocks ended higher on Thursday as comments by U.S. President Donald Trump fueled hopes of fresh fiscal support, while data underscored the view that the labor market recovery was struggling to gain momentum.
The Dow Jones rose 0.43 per cent, the S&P 500 gained 0.80 per cent and Nasdaq Composite added 0.5 per cent.
On the commodity front, oil settled above $43 a barrel on Thursday on support from output shutdowns ahead of a storm in the U.S. Gulf of Mexico and the possibility of supply cuts from Saudi Arabia and Norway.
Brent crude settled up $1.35, or 3.2 per cent to $43.34, after falling 1.6 per cent on Wednesday. U.S. West Texas Intermediate (WTI) crude added $1.24 cents, or 3.1 per cent, to $41.19 after falling 1.8 per cent on Wednesday.
On Thursday, the Sensex had ended 304 points higher to close at 40,183 and Nifty 50 index climbed 96 points to end at 11,835.
