The Indian equity benchmarks are set to open lower as indicated by Nifty Futures on Singapore Exchange amid weak global cues. The Nifty Futures on Singapore Exchange also known as SGX Nifty Futures fell 157 points to 17,488. Asian share markets fell on Friday, after red-hot U.S. inflation data and hawkish comments from a Federal Reserve official fuelled bets on U.S. interest rates being hiked more aggressively, and sent U.S. Treasury yields jumping.
MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.76%, with most markets in the red, though a resurgence in property stocks helped greater China markets. Japanese markets were closed for a holiday, news agency Reuters reported.
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Back home, foreign institutional investors sold shares worth Rs 1,732 crore while domestic institutional investors bought shares worth Rs 2,727 crore, data from NSE showed.
Hero MotoCorp will be in focus after its net profit in December quarter advanced 37 per cent to Rs 686 crore in December quarter.
Zomato will be in focus after its loss narrowed to Rs 63 crore in December quarter from Rs 353 crore during the same period last year.
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