Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 8 points at the opening bell.

Overseas, Asian stocks were trading mixed on Friday on rising tensions in the Middle East. Iran reportedly shot down a U.S. military drone and escalated the volatile situation between Washington and Tehran.

US stocks advanced on Thursday, with the S&P 500 closing at a record high, in a broad market rally, after the Federal Reserve signaled that an interest-rate cut may be forthcoming.

Markets rallied after Federal Reserve Chairman Jerome Powell on Wednesday signaled that the central bank may cut benchmark interest rates, currently at a range of 2.25%-2.50%, in the coming weeks if the economic outlook buffeted by U.S.-China trade tensions doesn't show signs of improvement.

The Fed next meets July 30-31, while President Donald Trump is reportedly expected to speak to Chinese President Xi Jinping on the sidelines of the coming Group of 20 meeting of the world's richest countries in Japan next week.

In economic data, the U.S. current-account deficit fell 9.4% in the first quarter mostly because of a smaller deficit in goods. The current-account deficit shrank to $130.4 billion from a revised $143.9 billion in the fourth quarter.

Back home, key benchmark indices ended with robust gains on Thursday, supported by positive global stocks. Global shares jumped after a dovish US Federal Reserve opened the door to further rate cuts. Following the Fed meeting on Wednesday, the US central bank left interest rates unchanged but opened the door for a possible rate cut in the future. The barometer index, the S&P BSE Sensex, gained 488.89 points or 1.25% to 39,601.63. The Nifty 50 index rose 140.30 points or 1.20%to settle at 11,831.75.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 438.41 crore yesterday, 20 June 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1241.23 crore yesterday, 20 June 2019, as per provisional data.