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The Indian equity benchmarks are set to open lower on Friday on the back of weak global cues and as indicated by the Nifty futures traded on Singapore Exchange The Nifty futures on Singapore Exchange fell 0.5 per cent or 75 points to 15,045. Asian stocks pulled back from all-time peaks on Friday as higher longer-dated bond yields and underwhelming U.S. data dented investor confidence in a faster economic recovery from the COVID-19 pandemic, while gold hit a seven-month trough. MSCI’s broadest index of Asia Pacific shares outside of Japan was last down 0.1 per cent at 733.67 from a record high of 745.89 touched on Thursday.
Overnight, a gauge of global equity markets slipped for a third straight session on Thursday as hints of rising inflation led by higher oil prices and the strongest copper prices in nearly a decade kept traders in check after stocks hit a record high earlier this week.
Oil prices erased early gains, with Brent retreating from a 13-month high above $65 a barrel as buying spurred by concerns that a rare cold snap in Texas could disrupt U.S. crude output for days or even weeks petered out.
The MSCI’s global stock index was down 0.79 per cent at 677.28. The index touched a record intra-day high of 687.26 on Tuesday, before erasing gains to snap an 11-day winning streak.
Back home, real estate developer DLF will be in focus after its subsidiary DLF Cyber City Developers Limited acquired 51.8 per cent stake is Fairleaf Real Estate Private Limited for Rs.780 crore.
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