Market may open flat to green

Indian markets show pull back on Friday, both Nifty & Sensex closed up 1.15% & 01.14%. However, the broader markets faced selling pressure with the BSE small-cap index up by 1.21%; while BSE mid-cap index up by 1.9%. During the week, Indian market remained in the broader range; however investors’ sentiments appear to be uncertain ahead of the budget which has increase the recent volatility.

US index closed weak on Friday, Nasdaq closed at its lowest since October 2014 leading a sell-off on Wall Street following weak forecasts from technology companies, including LinkedIn. The Dow Jones industrial average fell 211.75 points or 1.29% to 16,204.83, the S&P 500 lost 35.43 points or 1.85% to 1,880.02. On Friday US non-farm payrolls increased by 151,000 jobs; it fall short of market expectation. Further raising wage growth and falling unemployment data has increased the sentiment towards US FED rate hike.

Brent crude lost 1% to $34.13 a barrel, while US crude fell 2.3% to $31.00. As there is no sign how to stabilize the global oil market between oil producing countries.

Most of the Asian markets closed due to Lunar New Year holidays. ASX 200 and Nikkei opened in negative on weak earning concern.

Most European stocks turned lower on Friday, the Stoxx Europe 600 ended down 0.84% at 326. In Frankfurt, the DAX 30 was dragged down 1.14% to 9,286. France's CAC closed down at 4,201. The U.K’s FTSE 100 closing 0.86% down at 5,898.76.

While on domestic front, a SGX Nifty 50 index future for February series traded down 30 points at 7,477. Indian markets are likely to open in green. Metal stocks may remain in focus due to government move to protect the steel sector by imposing minimum import price (MIP) for steel products valid for atleast six months.