Indian markets are set for a positive start on Friday, tracking gains across global markets. Investor mood looked upbeat after Thursday’s stellar performance of benchmark indexes.

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The Singapore-traded SGX Nifty Futures, which is an early indicator of NSE Nifty 50’s performance in India, traded higher by 0.10 percent. The Sensex closed at 36,548.41, 282.48 points higher. It touched a life-time high of 36,699.53 in Thursday's session. The Nifty ended at 11,023.20.

The market is looking forward to Infosys Q1 results after the Tata Consultancy Services' Q1 earnings beat estimates.

The macro-economic indicators, however, point to risks. India’s consumer price index (CPI) inflation rose to 5 percent in June, against May’s 4.87 percent, driven by higher fuel prices and a depreciating rupee. The numbers are much beyond the Reserve Bank of India’s comfort zone of 4 percent, although the food inflation for June stood at 3.18 percent. Higher minimum support prices for crops announced recently by the Modi government may drive it higher.

India’s factory output growth slowed to a 7-month low in May, as data released by the statistics department showed. The index of industrial production (IIP) grew at 3.2% in May compared with a revised 4.8% growth a month ago.

Asian markets traded higher with Japan’s Nikkei gaining about 1.36 percent, while Hang Seng rose over 200 points. Wall Street also posted gains overnight spurred by technology stocks.

First Published:Jul 13, 2018 8:16 AM IST