Indian markets are likely to open flat tracking global indices and SGX Nifty.

U.S. Stocks moved mostly lower during the last trading session amid renewed trade concerns. The major averages fluctuated as the day progressed before closing firmly in negative territory. The Dow Jones slipped down by 1.0% to 24416 and the Nasdaq closed down by 0.3% to 7442.

U.K. stocks rose modestly on Thursday and the pound climbed on dollar weakness as investors hoped that Italy would be able to avoid a new round of elections. The benchmark FTSE 100 was down by 0.1% at 7678.

On domestic front Indian shares closed sharply higher on Thursday on eve of expiry of May series derivative contracts. Encouraging cues from global markets amid easing Italian worries and a rally in HDFC Bank shares supported sentiment ahead of fourthquarter GDP data as well as fiscal deficit figures due out later in the day. The BSE Sensex closed up by 1.2% at 35322.

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