Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 28 points at the opening bell.
Overseas, Asian stocks are trading higher on Friday, after a rebound in US equities and strong corporate earnings set the stage. Japan's industrial output rose 4% in September from the previous month, according to a preliminary report released Friday by the country's Ministry of Economy, Trade and Industry.
Record numbers of coronavirus cases worldwide and the November 3 U.S. presidential election remained the major factors looming ahead for investors.
In US, stocks closed higher on Thursday, with the technology heavyweights rallying ahead of major earnings reports and upbeat domestic economic data calming investor jitters about surging coronavirus cases.
The US economy grew at an unrivaled pace in the third quarter. Gross domestic product rebounded at a 33.1% annualized rate last quarter, the Commerce Department said in its advance estimate on Thursday. That was the fastest pace since the government started keeping records in 1947 and followed a historic shrinkage rate of 31.4% in the second quarter.
The European Central Bank committed on Thursday to take new action in December to contain the growing fallout from a second wave of coronavirus infections, likely in the form of more bond purchases or cheap credit for banks. While the bank's Governing Council left policy unchanged this time around, it was the clearest hint yet of more stimulus to come as new national lockdown measures make a double-dip recession increasingly likely for the euro zone economy.
In coronavirus developments, Moderna said Thursday it is prepping for the global launch of its potential coronavirus vaccine. That comes amid a rise in cases in the U.S. as well as Europe, with Germany and France announcing new nationwide lockdowns.
Back home, key equity benchmarks ended with modest losses on Thursday. The barometer index, the S&P BSE Sensex fell 172.61 points or 0.43% at 39,749.85. The Nifty 50 index lost 58.80 points or 0.50% at 11,670.80.
Foreign portfolio investors (FPIs) sold shares worth Rs 420.95 crore, while domestic institutional investors (DIIs), were also net sellers to the tune of Rs 253.41 crore in the Indian equity market on 29 October, provisional data showed.