 "Markets likely to turn choppy after higher opening")
Markets are likely to turn flat after making a higher opening tracking global cues. The early indicator, SGX Nifty has gained by 33 points at 7,474.
On Thursday, markets finished higher for the third straight day led by gains in metal shares on rebound in commodity prices while the minimum import price hike on aluminium announced by the government also boosted sentiment. Also, strength in the Asian peers on the back of strong jobs data helped the rally.
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Further, FIIs on Thursday net bought shares worth over Rs 900 crore, while domestic investors were net sellers of Rs 465 crore, provisional data showed.
Among Asian markets, Asian shares look set to post a third straight weeks of gains on Friday as investors scaled back cautious bets on the global economy after a string of positive U.S. economic data and a recovery in oil and commodity prices.
The rebound in risk asset prices could continue if the upcoming US employment report points to solid job gains, but not strong enough to encourage rate rises in the near term.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1%, hovering just below its two-month high hit the previous day. Japan's Nikkei slipped 0.3%.
Back home, the second edition of a two-day retreat, Gyan Sangam, will outline the reform agenda for the coming year for state-owned banks. The event follows Finance Minister Arun Jaitley's Budget statement that the government will unveil a road map for consolidation in public sector banks.
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CORPORATE NEWS
Reliance Industries is set to miss its deadline for re-opening all 1,400 retail fuel outlets by March-end.
HDFC will raise Rs 1,000 crore by issuing non-convertible debentures, to cater to its housing finance business needs.
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Mahindra and Mahindra Financial Services (MMFSL) plans to raise up to Rs 2,000 crore through a mix of retail bonds and commercial paper (CP) for business expansion
Japanese firm Nippon Life has got the market regulator's nod for raising its stake in Reliance Mutual Fund to 49 per cent. The company on Thursday received an approval from Securities and Exchange Board of India for increasing Nippon Life Insurance's stake from 35 to 49 per cent, Reliance Capital Asset Management (RCAM) said.
Yes Bank has acquired 5% stake in corporate governance and proxy advisory firm Institutional Investor Advisory Services (IiAS).
Essar Steel has emerged as the successful bidder in the first iron ore block offered for e-auctions in Odisha.
