SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 106 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher on Friday as investors weigh recession fears.

Core consumer prices in Japan rose 2.1% for the month of May compared to a year earlier, in line with estimates. That's above the Bank of Japan's target of 2% inflation.

Wall Street's main indexes posted solid gains on Thursday, fuelled by strong performance from defensive and tech shares that outweighed declines for economically sensitive groups as worries persisted about a potential recession.

Federal Reserve Chair Jerome Powell on Thursday reiterated that the central bank is “strongly committed” to bringing down inflation, as he spoke on monetary policy for a second day before Congress. He also noted that a recession is a “possibility,” a fear that has continued to weigh on Wall Street.

The largest US banks on Thursday easily cleared the Federal Reserve's annual health check. The results of the Fed's annual stress test exercise showed the banks have enough capital to weather a severe economic downturn and paves the way for them to issue share buybacks and pay dividends.

On Thursday, the Labor Department said U.S. weekly jobless claims fell 2,000 to a seasonally adjusted 229,000 for the week ended June 18, showing the labor market remains tight.

Domestic markets:

Back home, the key equity barometers ended with strong gains on Thursday. The barometer index, the S&P BSE Sensex, rose 443.19 points or 0.86% to 52,265.72. The Nifty 50 index gained 143.35 points or 0.93% to 15,556.65.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,319.06 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,438.31 crore in the Indian equity market on 23 June, provisional data showed.

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