Market may open in red tracking Asian markets

Indian equities indices trimmed most of their day’s gains in the last hour of trade and ended the volatile trading session on a flat note on account of weak global cues and F&O expiry. The Nifty was up 3.20 points to close at 7738.40; and the 30-share BSE Sensex rose 3.28 points to 25341.86. While the Sensex gained 10.2% in March, the Nifty rallied 10.7% which is the biggest monthly gain in the past four years, thanks to the sharp rally after the Budget. On yearly basis, benchmark indices shed 9% in FY16 due to failure in passing GST bill in Parliament, China concerns, lack of reforms, slow investments in infrastructure etc.

On currency front, the rupee closed at 66.25 a dollar, up 12 paise compared to previous session. However, the currency fell by 6% in FY16, continuing with its fall for the fifth consecutive fiscal year.

U.S. stocks closed narrowly in the mix on Thursday, ahead of the monthly employment report due today. The S&P 500 fell 4.21 points or 0.2% to 2,059.74; jumped 6.6% in March and was up 0.8% for the year. The Dow Jones Industrial Average closed lower by 31.57 points, or 0.2% at 17,685.09. But it gained 7.1% over the month and is up 1.5% since the start of the year. The Nasdaq composite index closed flat, however for a month it gained 6.8% in March, but remains down by 2.7% for the year.

European stocks closed sharply lower on Thursday and awaited key jobs data due to be out in the U.S. on Friday. The Stoxx Europe 600 fell 1.1% to 337.54. German’s DAX 30 lost 0.8% to close at 9,965.51. France’s CAC 40 lost 1.3% quoting 4,385.06. The U.K’s FTSE 100 shed 0.5% quoting 6,174.90.

Asian markets opened in red on Friday ahead of China factory activity data, and the U.S. non-farm payrolls report. Japan's Nikkei 225 slipped 2.84%, South Korea’s Kospi index slid 0.57%. Australia’s S&P/ASX 200 index was down by 1.52%. New Zealand’s NZX 50 index fell 0.36%. Chinese markets traded lower, with the Shanghai composite down 0.57%.

On domestic front, A SGX Nifty 50 index future for April series traded down 34 points at 7,754. Indian markets are likely to open in red due to following other Asian markets.