Global cues, corporate earnings, and report of a possible stimulus package by the government to counter the economic slowdown are likely to dominate Dalal Street proceedings on Friday. As per reports, the government might soon provide a broad stimulus package or a sector-specific booster dose. This comes after Prime Minister Narendra Modi's meet with Finance Minister Nirmala Sitharaman and officials of her ministry on Thursday. There might also be some relief to foreign portfolio investors from the super-rich surcharge.
That apart, market participants will react to the June quarter earnings announced on Thursday and after market hours on Wednesday. Progress in monsoon, foreign fund flow, rupee's trajectory, and oil price movement are the important factors investors will keep an eye on.
On Wednesday, the benchmark S&P BSE Sensex settled at 37,311 levels, up 0.96 per cent, while the broader Nifty50 climbed 0.95 per cent to end at 11,029 levels. In the currency market, the rupee rose 12 paise to end at 71.27 against the dollar on Wednesday.
The US indices were lifted by upbeat retail sales data on Thursday. The Dow rose 0.39 per cent to 25,579, the S&P 500 gained 0.25 per cent to 2,848, and the Nasdaq dropped 0.09 per cent to 7,767.
Asian shares were heading for weekly losses on Friday amid conflicting messages on the Sino-US trade war. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.17 per cent. Japan's Nikkei fell 0.5 per cent, while Australia was heading for a weekly drubbing of 2.7 per cent.
At 07:50 am, Nifty futures on the Singapore Exchange were trading 53.50 points or 0.49 per cent higher at 10,950.50, indicating a positive start for the Indian market today.
And, before we wrap, here's a look at the top headlines for the day -
>> Reliance Industries may buy more cable companies to aid JioFiber plans;
>> UN Security Council to meet on Friday on India's moves in Kashmir;
>> NBFCs will be in goodwill hunting mode for some time to come, day experts.