Indian shares are expected to open higher on Friday, in line with Asian peers as cooling U.S. inflation fuelled hopes that aggressive Federal Reserve rate stance might begin to ease.
India’s NSE stock futures, listed on the Singapore exchange , were up 1.6 at 0148 GMT. The MSCI’s broadest index of Asia-Pacific shares outside Japan surged 3.6%.
The NSE Nifty 50 index closed down 0.71% at 18,028 on Thursday, while the S&P BSE Sensex fell 0.69% to 60,613.70.
All three major U.S. stock indexes notched their biggest one-day percentage advances in about two-and-a-half years in a broad, robust rally as the Labor Department’s data showed the annual consumer price index number below 8% for the first time in eight months.
India will report its October inflation number next week.
In domestic earnings, Nifty component Mahindra and Mahindra , top insurer Life Insurance Corporation of India , battery maker Exide Industries, engineering company Bharat Heavy Electricals will be among the scores of companies reporting quarterly numbers.
Foreign institutional investors bought net of 360.6 million Indian rupees ($4.47 million) equities on Thursday, while domestic investors sold 9.67 billion rupees of shares, as per provisional data available with the National Stock Exchange.
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