Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 47 points at the opening bell.
Overseas, Asian stocks were mixed on Friday following a record contraction in U.S. gross domestic in the second quarter. Markets in Singapore, Malaysia and Indonesia are closed for a holiday on Friday.
China's official manufacturing Purchasing Managers' Index for July came in above expectations on Friday. The manufacturing PMI for July was at 51.1 from June's 50.9, according to the country's National Bureau of Statistics.
Japan's industrial output snapped four months of decline in June. Official data released on Friday showed factory output increased 2.7% in June from the previous month when it hit its lowest level since March 2009 during the financial crisis.
In US, the S&P 500 and Dow closed lower on Thursday after data painted a worrying economic picture on a crucial day for corporate earnings reports. The Nasdaq eked out a positive finish as investors braced for a litany of quarterly results from behemoths of the technology and e-commerce world.
President Donald Trump raised the idea of a delay in elections. The idea was immediately rejected by both Democrats and his fellow Republicans in Congress, the branch of government with the power to make that change.
Investors also worried about the expiration of enhanced employment benefits on Friday as U.S. Congress was no closer to a deal on Thursday to extend or replace the extra $600-per-week in payments to tens of millions thrown out of work by the coronavirus.
In economic data, a first reading on U.S. gross domestic product data for the second quarter confirmed the pandemic pummeled the economy. U.S. GDP collapsed at a 32.9% annualized rate during the second quarter, following a 5% slump in the first quarter.
Back home, key domestic barometers tumbled on Thursday, dragged by selling in private lenders. Negative global cues spoiled investors sentiment. Trading was volatile as the July 2020 F&O contracts expired on 30 July 2020. The barometer index, the S&P BSE Sensex dropped 335.06 points or 0.88% at 37,736.07. The Nifty 50 index lost 100.70 points or 0.90% at 11,102.15.
Foreign portfolio investors (FPIs) bought shares worth Rs 207.30 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 387.24 crore in the Indian equity market on 30 July, provisional data showed.
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