Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 60 points at the opening bell.

Reserve Bank of India (RBI) governor Shaktikanta Das will address a press conference today at 10:00 IST. This will be third presser of the governor in the context of COVID-19 related measures in last two months. As per reports, the governor may announce an extension of the loan moratorium for term loans for a few more months in the backdrop of extension of the nationwide lockdown till May 31. Secondly, the governor could announce the continuation of the liquidity support measures for banks to lend to Non-banking finance companies and small industrial units in view of the prolonged stress in the economy. The governor may also comment on the recent economic package announced by the government to counter the Covid-impact in the economy.

Overseas, Asian stocks are trading lower on Friday as tensions between the US and China rise. Hong Kong's Hang Seng index led losses among the region's major markets as it plunged over 3%. The moves came after reports surfaced Thursday that China is planning national security laws for Hong Kong, after the city was plunged into turmoil by pro-democracy protests last year that periodically degenerated into violence. The laws would reportedly ban secession, foreign interference, terrorism and all seditious activities aimed at toppling the central government and any external interference in the former British colony.

In US, Wall Street ended lower on Thursday, on a fresh wave of China-US tensions that raised doubts about the trade deal reached early this year between the world's two largest economies.

Stocks traded under pressure for most of the session as President Donald Trump tweeted late Wednesday that China's “disinformation and propaganda attack on the United States and Europe is a disgrace,” while the White House issued a broad attack on Beijing's economic policies, military buildup, and human rights violations.

Back home, the market ended with decent gains on Thursday, extending its winning run for the third straight session. The barometer S&P BSE Sensex rose 114.29 points or 0.37% at 30,932.90. The Nifty 50 index rose 39.70 points or 0.44% at 9,106.25.

Foreign portfolio investors (FPIs) sold shares worth Rs 258.73 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 401.78 crore in the Indian equity market on 21 May, provisional data showed.