The Nifty is seen opening in the green on Friday in line with SGX Nifty, which was up 59.50 points at 7071.50 at 7:41 AM.
Asian markets opened with strong gains taking a cue from the higher finish on Wall Street. Japan's January core-core consumer price index (CPI) has come in 0.7 percent higher, compared to positive 0.8 percent in December. Japan’s Nikkei was up 1.16 percent, while Hang Seng was higher by nearly 1.7 percent.
Investors’ attention is now focussed on the G20 finance ministers and central bankers meeting in Shanghai to discuss global economic growth concerns. The two-day meeting started off on Friday.
US stocks closed higher, extending the previous day's massive intraday reversal as oil prices rose. The major indices rallied into the close with the S&P 500 rising 1 percent to top the 1,950-level many analysts consider a resistance level.
Europe markets posted strong gains, as investors cheered on a positive set of corporate earnings.
In currency trade, gains in US and European stocks helped the dollar climb against safe-haven currencies.
Among other asset classes, crude prices were choppy in trade. Reports indicated that OPEC members and Russia have agreed to meet in March to discuss capping crude production at January levels.
Gold prices held steady at around USD 1230 an ounce.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
