Last week, the domestic equity market climbed by more than 1%. Nifty, which concluded at 18,512.7 levels up by 0.16%, is only a few points away from its high of 18,534.90, while the Sensex closed at 62,293.64 levels up by 0.03%.
After a disappointing third-quarter reporting period, analysts are projecting that fourth-quarter U.S. earnings will decline for the first time in two years as rising interest rates and slowing growth further dampen the outlook.
Stock futures rose Friday after China said it would ease some Covid measures, building on optimism from lighter-than-feared inflation data that fueled a broad market rally in the previous session.
On the sectoral front, selling was seen in metals, IT and financials, while buying was seen in autos, infra and energy space.
Nasdaq 100 futures dropped on Thursday as a bleak forecast by Meta fanned worries of a slowdown in earnings, while hopes that the U.S. Federal Reserve will slow the pace of rate hikes limited declines.