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

The US stocks showed a substantial move back to the upside during trading on Friday. The major averages spiked going into the close of trading ending the session at their best levels of the day. The Dow soared by 9.4 percent to 23186 and the Nasdaq jumped by 9.3 percent to 7875.

UK stocks rebounded from their worst day of trading since Black Monday on hopes that a U.S. stimulus package could help limit the economic damage from the coronavirus outbreak. The benchmark FTSE 100 rose by 4 percent to 5446.

On domestic front Indian shares plunged deep into the red in early trade on Friday before reversing direction to end sharply higher for the day on the back of shortcovering on hopes the United States would pass a coronavirus economic aid package. The benchmark BSE Sensex escalated by 4 percent to 34103.

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