Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 71.50 points at the opening bell amid negative cues from Asian market.

Overseas, Asian shares declined on Friday after China reported economic data that missed expectations. China on Friday reported industrial output and retail sales growth for the month of November. Industrial output in November grew 5.4% from a year ago. That figure was 5.9% in October. Retail sales rose 8.1%, down from 8.6% in October. Fixed asset investment rose 5.9% from January to November. It rose 5.7% from January to October.

In Japan, confidence among Japan's big firms remained unchanged from three months ago, a closely-watched central bank survey showed, but sentiment on the outlook soured for the first time in three quarters as trade frictions and global growth concerns hurt the business mood. The tankan's headline gauge of big manufacturers' sentiment stood at plus 19, unchanged from three months ago. The index for non-manufacturers rose to plus 24 from plus 22 in the September survey.

In Europe, the European Central Bank (ECB) on Thursday said it is bringing to an end a crisis-era bond-buying program this month. Bond purchases by the ECB will fall from 15 billion euros ($17.04 billion) a month to zero by the end of December, but the central bank plans to spend cash from maturing bonds to purchase additional debt. The ECB also left benchmark interest rates unchanged.

US stocks closed mostly lower after making small moves in and out of positive territory Thursday as investors continued to fret over the lack of clarity and progress in US-China trade talks.

On the data front, the Labor Department announced Thursday that initial jobless claims fell in the week ended December 8 by 27,000 to 206,000, easing fears that layoffs have been steadily rising. Further, the government also said that US import prices fell 1.6% in November, their largest decline in three years, led by the falling cost of oil.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 675.14 crore on 14 December 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 51.86 crore on 14 December 2018, as per provisional data.

On the political front, the Congress party has reportedly chosen senior leader Kamal Nath, 72, as its chief minister in Madhya Pradesh.

Domestic stocks logged modest gains yesterday, 13 December 2018, following strong domestic economic data. Stocks advanced for third consecutive session boosted by the appointment of new Reserve Bank of India (RBI) governor and as uncertainty surrounding state election outcome receded. The barometer index, the S&P BSE Sensex, rose 150.57 points or 0.42% to settle at 35,929.64. The Nifty 50 index rose 53.95 points or 0.50% to settle at 10,791.55.