Global cues, macro data, and stock-specific action will be the key factors giving direction to the markets today.
Investors will await the Gross Domestic Product (GDP) data for the September quarter, slated to be released later in the day, to get a clearer picture of the state of the economy. A Reuters poll of economists showed annual growth in GDP of 4.7 per cent in the quarter.
Non-banking financial companies (NBFCs) may be in focus today on report that the government has strongly advocated direct intervention by the Centre in stressed NBFCs.
Further, Karvy Stock Broking has approached the Securities Appellate Tribunal (SAT) against the Sebi order that barred it from taking up new clients. The matter will be heard by the tribunal today.
These apart, market participants will also track the oil price movement, the Rupee's trajectory against the US dollar, and foreign fund flow.
On Thursday, the S&P BSE Sensex gained 110 points to close at 41,130 levels - its fresh closing high. The Nifty50 index, too, scaled a fresh closing peak of 12,154 levels, up 54 points. Besides, Reliance Industries (RIL) created history as it became the first Indian company to hit Rs 10 trillion market capitalisation.
In the currency market, the Rupee dropped by 27 paise to close at 71.62 per US dollar.
Asian shares ticked up on Friday, but the gains were capped as investors worried that US President Donald Trump signing into law a bill backing protesters in Hong Kong could fuel tensions with China. MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.05 per cent in early Friday trade while Japan's Nikkei gained 0.27 per cent.
Oil prices ended mixed on Thursday and Brent crude lost 14 cents at $63.92 a barrel.