Market Is Likely To Open Flat

Indian equities indices extending its winning run to fifth consecutive session on yesterday and finished the volatile day of trade with a gain on account of buying in frontline blue chip counters as Moody's raised country's credit rating outlook to 'positive' from 'stable'. At the close, the Nifty gained 0.73% to hit a new 1-month high, while the BSE Sensex climbed 0.62%. The BSE Mid-Cap index rose 28.08 points or 0.25% to settle at 11,050.25, underperforming the Sensex. The BSE Small-Cap index rose 82.10 points or 0.71% to settle at 11,717.48, outperforming the Sensex.

U.S. stocks ended Thursday’s choppy trading session with modest gains on Thursday, amid a stronger dollar and better than expected employment data. The S&P 500 closed up 9.28 points, or 0.4%, at 2,091.18. The Dow Jones Industrial Average gained 56.22 or 0.31% to 17,958.73 to extend its winning streak, while the NASDAQ Composite index rose 23.75 or 0.48% to 4,974.57.

The number of Americans filing new claims for jobless benefits rose less than expected last week and the four-week moving average of claims hit its lowest level since 2000, suggesting an abrupt slowdown in job growth in March could be temporary. Initial claims for state unemployment benefits increased 14,000 to a seasonally adjusted 281,000 for the week ended Apr 4, the Labour Department said on Thursday.

European stocks rallied to their highest levels in nearly eight years as traders focused on the Greek debt saga and outlook for interest rates on both sides of the Atlantic. London's benchmark FTSE 100 index climbed 1.12% to 7,015 points. Frankfurt's DAX 30 grew 1.08% to 12,166 points and the CAC-40 in Paris advanced 1.40% to 5,209 points compared with Wednesday's close.

Asian stocks advanced on the last trading day of the week except Japan, drawing support from a stronger finish on Wall Street overnight and as China's consumer inflation held steady in March. Japan's Nikkei 225 index is trading at flat. China's Shanghai Composite index inched up 0.5%, reversing a lower open, as latest inflation data signaled a favorable environment for further government stimulus. In Hong Kong, the Hang Seng index appears set to chalk up a three-day long blistering rally, up 0.42% and hitting its highest level since January 2008.

SGX Nifty is trading at flat by (-) 1 points. Indian market is likely to open flat. February IIP data will be released on 10 April i.e. on today. The next major trigger for the Indian markets is Q4 results which will start from next week.