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Market is likely to open on a on weak note tracking Nifty futures at the Singapore Exchange (SGX Nifty) levels, which is down by 14 points at 6764 levels.
The BSE Sensex fell on Thursday after touching its ninth consecutive record high, as state-run banks such as State Bank of India (SBI) slumped on concerns about losses on their debt portfolios as domestic bonds extended a slide this week.
Still, heavy foreign buying has continued to underpin share gains. Foreign investors bought a net Rs350.3 worth of shares on Thursday.
Investors will look towards global cues in absence of any local triggers. US jobs report for March is due to be released late Friday. The report will gauge whether the economic weakness of January and February was due to bad weather and the recovery is still on track
Early trades in Asian markets point towards a subdued session on Friday as investors counted down the hours to the US jobs report.
In Europe, the ECB stayed out in its monetary policy review as was widely expected, but President Mario Draghi was at pains to emphasise the central bank's willingness to act if inflation stayed low.
Crucially, Draghi declared the policy making council was "unanimous" on using unconventional easing if needed. That marked a major change as some countries, notably Germany, have long opposed steps such as quantitative easing
Australia's share market dipped 0.1%, while MSCI's broadest index of Asia-Pacific shares outside Japan barely budged.
Shares to track
Dish Tv will be in focus after Telecom Disputes and Settlement Appellate Tribunal (TDSAT) has deferred a case -- regarding the payment of licence fees on basis of their gross revenue -- to May 6.
Tata Motors will also be watched as India's fourth largest passenger vehicle manufacturer, on Thursday announced its entry into the Philippines market at the Manila International Auto Show.
