The markets are likely to continue the upward trend on Friday, as indicated by global cues.
Trends on SGX Nifty indicate a gap-up opening for the broader index in India, with a gain of 185.50 points or 1.09 percent. The Nifty futures were trading around 17,132.50 level on the Singaporean Exchange at 7:30 IST.
The Indian equity market extended gains for the second day on Thursday on positive global cues with the US Federal Reserve going for the expected 75 bps rate hike and buying across the sectors.
At close, the Sensex was up 1,041.47 points, or 1.87 percent, at 56,857.79, and the Nifty was up 287.80 points, or 1.73 percent, at 16,929.60.
US stocks on Thursday rallied for a second day, with all three major indexes ending up more than 1 per cent. The Dow Jones Industrial Average rose 332.04 points to 32,529.63 the S&P 500 gained 48.82 points to 4,072.43 and the Nasdaq Composite added 130.17 points to 12,162.59.
Rupee rises on Thursday
The rupee gained 22 paise to close at 79.69 against the US dollar on Thursday.
Oil prices rise
Oil prices gained about $1 in early trade on Friday.
U.S. West Texas Intermediate (WTI) crude futures for September delivery rose $1.09, or 1.1%, to $97.51 a barrel by 0041 GMT, reversing losses from the previous session when sentiment was hit by fears of a recession in the United States.
Brent crude futures for September settlement, due to expire on Friday, rose 86 cents, or 0.8%, to $108.00 a barrel. The more active October contract climbed 87 cents, or 0.9%, to $102.70.
Stocks to focus on
DLF, Ashok Leyland, HDFC, Sun Pharma, NTPC, HDFC Life Insurance, Indian Oil Corp, Cipla are among the companies that will announce their earnings for the quarter ended June 2022.
Asian markets edged higher in trade early on Friday. Japan's Nikkei 225 rose 0.2 per cent and South Korea's Kospi advanced 0.6 per cent.