Market Likely To Open Flat To Negative

Indian equities market Snaps 3-Day Losing Streak with benchmark Nifty managing to sneak past the 7,800-mark at close on value-buying in recently beaten-down stocks amid rebound in global markets and as a holiday in China gave investors a break from its torrid markets. The BSE Sensex surged 311.22 points, or 1.22%, to close at 25,764.78 and the Nifty, gained 106 points, or 1.37%, to settle the day at 7,823. The BSE Mid-Cap index rose 123.14 points or 1.18% to settle at 10,560.21. The BSE Small-Cap index rose 123.92 points or 1.15% to settle at 10,873.55. Both these indices underperformed the Sensex.

US equity markets gave up early gains on Thursday as investors turned cautious ahead of the August jobs market report, which could weigh heavily the Federal Reserve's upcoming interest rate decision. The S&P 500 which rallied more than 1% in early session closed 2.27 points, or 0.1% higher to 1,951.13. The Dow Jones Industrial Average relinquished its 200-point pop to finish 23.38 points, or 0.1%, higher at 16,374.76, while the Nasdaq Composite ended the day down 16.48 points, or 0.4% at 4,733.50.

Europe's main stock markets rose on Thursday with big gains across the board as European Central Bank hinted at more stimulus if needed in the eurozone. The ECB already has rates near zero percent and have an ongoing bond-buying program, dubbed QE, to help boost inflation and economic growth. The European Central Bank kept its key interest rate unchanged at 0.05%. London's benchmark FTSE 100 index climbed 1.82% to close at 6,194.10 points. In the eurozone, the CAC 40 in Paris gained 2.17% to finish at 4,653.79 points, while Frankfurt's DAX 30 jumped 2.68% to end at 10,317.84 points.

Asian shares were mixed on Friday as caution about a U.S. jobs report jostled with signals from the European Central Bank that it is willing to take further steps to shore up the European economy. Japan’s Nikkei 225 index fell 0.8% after briefly notching up 0.5% at the start of trade. Australia's S&P ASX 200 index bounced back into positive territory by 0.4% after turning negative briefly in the first hour of trading. South Korea’s Kospi index fell 0.8% followed the reversal in sentiment across the region. Hong Kong markets reopen for trade after being shut on Thursday, with the key Hang Seng index reaping modest gains of 0.33% in early trade. Trading is expected to be light as China's stock market remains closed for a second day.

A SGX CNX Nifty Index future for September delivery was up 22 points at 7,819. Indian market is likely to open flat.