Sensex, Nifty Seen Flat To Higher

Indian shares may open higher on Friday as investors react to positive earnings results from the likes of Hero MotoCorp and Adani Power.

Benchmark indexes Sensex and the Nifty rose 0.6 percent and 0.7 percent, respectively on Thursday to extend gains for the second straight session, while the rupee rose by 13 paise to close at 73.78 against the U.S. dollar.

Asian markets are trading mostly higher this morning and commodities extended their advance on expectations that economic recovery in developed countries will spur a boom in global demand. Investors expect more evidence of that recovery in the latest U.S. jobs data due out later today.

U.S. stocks ended mostly higher overnight after data showed applications for state unemployment insurance fell last week to a fresh pandemic low.

The Dow climbed 0.9 percent to reach another new record closing high, the S&P 500 rose 0.8 percent and the tech-heavy Nasdaq Composite added 0.4 percent.

European stocks ended Thursday’s session on a mixed note as investors digested a slew of earnings announcements, economic reports and the Bank of England’s policy statement.

The pan European Stoxx 600 slipped 0.1 percent. The German DAX edged up 0.2 percent, France’s CAC 40 index inched up 0.3 percent and the U.K.’s FTSE 100 gained half a percent.