(Reuters) - Indian shares are set to open lower on Friday after an eight-day rally, as investors waited for U.S. payrolls data to gauge more signs of a shift on rate plans from the Federal Reserve.
India's NSE stock futures listed on the Singapore exchange were down 0.30% at 18,919 as of 07:45 a.m IST.
Wall Street equities closed mostly lower overnight on Thursday as investors digested key economic data and looked ahead for U.S. non-farm payrolls data, scheduled to be released later in the day.
Asian markets also declined, with the MSCI Asia ex-Japan index shedding 0.26%.
Oil prices retreated from the session's highs, after rising on a weak dollar and on hopes of improved fuel demand in China after the country eased COVID-19 restrictions in two major cities, ahead of the OPEC+ meeting on Sunday.
On Thursday, Indian shares extended their rally for an eighth straight session, with the S&P BSE Sensex rising 0.29% to close at 63,284.19 and the NSE Nifty 50 index adding 0.29% to settle at 18,812.50.
Foreign institutional investors sold net of 15.66 billion Indian rupees ($192.95 million) equities on Thursday, while domestic investors bought 26.65 billion rupees ($328.36 million) worth of shares, as per provisional NSE data.
Stocks To Watch:
** Reliance Industries, ONGC, GAIL : Government reduced windfall tax on domestic crude by half to 4,900 rupees per tonne and levy on diesel exports to 6.5 rupees per litre
** Mazagon Dock, Cochin Shipyard, Garden Reach Shipbuilders: India plans to offer cash subsidies, lower taxes and other incentives to aid shipbuilding industry, reported Reuters, citing two government sources.
** Hero MotoCorp: Co sold 390,932 units in Nov. 2022, up 12% Y/Y, in November.
** NMDC: Government invites expressions of interest to divest 50.79% stake in NMDC Steel.
** Yes Bank: RBI allows Advent and Carlyle to pick up 9.99% stake each in the lender, on conditional basis.