Wholesale inflation (WPI) print for May, due later in the day, will be keenly awaited by the investors on Friday. Additionally, crude oil prices, rupee value against the US dollar and FII flows are also expected to steer indices.
On Thursday, the stock market ended on a flat note. The S&P BSE Sensex closed 15 points lower at 39,741 while the broader Nifty50 settled at 11,914-mark, up just 8 points.
The rupee dived 16 paise to close at 69.50 against the US dollar.
Asian stocks held their ground on Friday after Wall Street gained on a surge in oil prices. MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed. Australian stocks edged up 0.05 per cent while Japan’s Nikkei dipped 0.1 per cent.
On Wall Street, the indices ended in the green during the overnight trade on Thursday. The Dow Jones Industrial Average rose 102 points to 26,107, the S&P 500 gained 12 points to 2,892 and the Nasdaq Composite added 44 points to settle at 7,837.
In the commodities market, oil prices eased after witnessing a sharp rally on Thursday due to attacks on two oil tankers in the Gulf of Oman.
Brent crude futures were down 0.3 per cent at $61.14 a barrel by 6:10 am.