Expect a positive opening

 Indian equities markets closed lower for the third consecutive session on Thursday with the Nifty ending on a 21-month low after the railway budget failed to cheer investors. Expiry of monthly derivatives contract also kept the markets choppy. The Sensex ended below 23000-mark, down 112.93 points to 22976 and the Nifty closed below 7000 level, down 48.10 points to 6970.60. The broader markets also saw selling pressure with the BSE small-cap index falling by 0.9%; while mid-cap index dropped 1.1%. Meanwhile, the Indian rupee plunged to a fresh 30-month low of 68.72, dropping 15 paise against the US dollar on fresh demand for the American dollar, which added to the selling pressure.

U.S. stocks rose for a second consecutive day on Thursday due to a rebound in oil prices as the market focused on an upcoming meeting of major oil producers that investors hope could stabilize volatile petroleum markets. The Dow Jones industrial average rose 212.37 points, or 1.29% to 16,697.36, the S&P 500 gained 21.93 points, or 1.14% to 1,951.73 and the Nasdaq Composite added 39.60 points, or 0.87% to 4,582.21.

U.S. benchmark crude was up 3% to USD 33.17 after falling earlier, as low as USD 31.07. Brent crude, the global oil benchmark, rose 88 cents, or 2.6%, to end at USD 35.29 a barrel after trading as low as USD 33.29.

European stock markets also closed higher yesterday, shrugging off a Chinese share slide, as investors looked ahead to a key meeting of finance ministers to discuss strains in the global economy. The EURO STOXX 50 index rose 1.9% to 2,874.43. The German DAX was up 1.8% and the CAC 40 in Paris was 2.2% higher. London’s benchmark FTSE 100 index led the way, rising 2.5% to close at 6,012.81 points.

Markets in Asia traded higher on Friday following U.S. shares, which traded higher and in the wake of investors awaiting a meeting of finance chiefs from the group of 20 countries that will likely offer words of reassurance, even if little in the way of actual policy stimulus. Japan's Nikkei 225 index rose 1.2% as the Yen traded at 113.14 per dollar after falling 0.7% on Thursday. South Korea’s Kospi index gained 0.26% and New Zealand’s S&P/NZX 50 Index slid 0.1%. Australia’s S&P/ASX 200 Index gained 0.23%. The Shanghai composite gained 1.01%, after dropping 6.4% in its previous session.

While on domestic front, A SGX Nifty 50 index future for February series traded up 58 points at 7,070. Indian markets are likely to open in the positive following other Asian markets. Investors and analysts will be focused on union budget 2016 on Monday, February 29.