SGX Nifty:

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

Budget session:

The Union Budget 2021-22 would be presented on February 1. The Parliament session would be starting from January 29, and would be held in two phases. Subject to exigencies of government business, the session is likely to conclude on 8 April 2021.

Global markets:

Overseas, Asian stocks were mixed on Friday as investors regionally reacted to the release of U.S. President-elect Joe Biden's $1.9 trillion coronavirus rescue package.

U.S. President-elect Joe Biden on Thursday revealed details of a $1.9 trillion coronavirus rescue package. Biden's proposal, called the American Rescue Plan, includes some familiar stimulus measures in the hope of sustaining families and companies till vaccines are widely distributed. Some of the proposed measures include stimulus checks as well as unemployment support.

Shares of Chinese smartphone maker Xiaomi plunged in Friday after U.S. President Donald Trump's administration placed the firm on a blacklist of alleged Chinese military companies.

In US, stocks fell slightly on Thursday, with tech shares declining, as traders awaited the unveiling of a potentially big economic stimulus package.

Sentiment got a boost earlier in the session as trial data published late Wednesday showed that Johnson & Johnson's one-dose coronavirus vaccine is safe and generates a promising immune response.

Investors kept an eye on Federal Reserve Chair Jerome Powell, who struck a dovish tone in comments at a virtual symposium with Princeton University. Powell said the U.S. central bank is not raising interest rates anytime soon and rejected suggestions the Fed might start reducing its bond purchases in the near term.

Meanwhile, Donald Trump became the first president in U.S. history to be impeached twice when the House voted 232-197 on Wednesday to charge him with inciting riots at the Capitol.

Domestic markets:

Back home, the domestic equity benchmarks reversed early losses and ended with decent gains on Thursday. The barometer index, the S&P BSE Sensex, added 91.84 points or 0.19% to 49,584.16. The Nifty 50 index gained 30.75 points or 0.21% at 14,595.60.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,076.62 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 188.10 crore in the Indian equity market on 14 January, provisional data showed.