Domestic equity indices are likely to open on a positive note on Friday, tracking firm trading in Asian markets after European Central Bank (ECB) president Mario Draghi on Thursday hinted at further stimulus for the euro region in March.
The sentiment was further boosted after Chinese vice-president Li Yuanchao, vice-president at the World Economic Forum, gave reassurance that the world's second-largest economy will remain an important driving force for global economic growth. US crude prices too recovered in overnight trade to over $29 a barrel level.
At 07:45 am, Nifty50 futures on the Singapore Stock Exchange were trading 58 points higher at 7,364, indicating a gap-up opening for the domestic market.
Japanese benchmark Nikkei was trading 3.51 per cent higher at 16,578.81. Data showed Japanese flash manufacturing PMI fell to 52.40 in January from 52.60 in December.
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