SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 56 points at the opening bell.
Global markets:
Overseas, Asian stocks are trading lower on Friday as investors took some money off the table after a recent rally that was driven by hopes a massive U.S. economic stimulus plan by incoming President Joe Biden will help temper the COVID-19 impact.
Japan's core consumer prices slumped in December at the fastest annual pace in a decade. The nationwide core consumer price index (CPI), which includes oil but excludes fresh food costs, fell 1% in December from a year earlier, government data showed.
In US, the S&P 500 and Nasdaq closed at record highs on Thursday, propelled by optimism about more pandemic relief under the Biden administration to support the economy.
Investors are watching if President Joe Biden can get his proposed $1.9 trillion coronavirus relief bill through Congress. House Speaker Nancy Pelosi said Thursday the chamber is ready to pass the bill in the first week of February.
Biden released details of his Covid plan on his first full day in office, including 10 executive orders and his intent to use the Defense Production Act to ramp up protective equipment production. Biden will seek to accelerate the rollout of vaccines by providing more local and state funding, creating more vaccination sites and launching a national education campaign.
In Europe, the European Central Bank left its key bond-purchase program unchanged Thursday and also pledged to provide more support for the economy if needed as the 19-country eurozone endures a winter economic slowdown due to the pandemic.
Domestic markets:
Back home, domestic equity indices corrected on Thursday as investors booked profits after gains in past two consecutive sessions. The S&P BSE Sensex, slipped 167.36 points or 0.34% at 49,624.76. The Nifty 50 index fell 54.35 points or 0.37% at 14,590.35.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,614.66 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,039.48 crore in the Indian equity market on 21 January, provisional data showed.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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