The stock markets are likely to open on a flat note ahead of the monetary policy announcement by the Reserve Bank of India. Reserve Bank Governor Shaktikanta Das-led Monetary Policy Committee (MPC) will announce its policy decision, at the end of a scheduled review that started on Wednesday. Trends on SGX Nifty indicate a cautious opening for the index in India, with a 15-points loss. At 7:30 am, the Nifty futures were trading at 15,680, lower by 15 points or 0.1 per cent, on the Singapore Stock Exchange.
Asian stocks followed Wall Street lower on Friday as signs of a strengthening U.S. recovery boosted bets for higher inflation and an earlier tapering of Federal Reserve stimulus.
Japan's Nikkei fell 0.8 per cent early in the Asian session, while MSCI's broadest index of Asia-Pacific shares outside Japan was off 0.3 per cent.
Global equities markets lagged on Thursday after stepping back from near-record levels earlier in the week, as investors studied strong U.S. data reports for economic recovery and inflation signals.
The Dow Jones fell 0.07 per cent, the S&P 500 lost 0.36 per cent and Nasdaq Composite dropped 1.03 per cent.
On the earnings front, Punjab National Bank, Bank of India and Bharat Forge will declare their numbers during the day.
On Thursday, the BSE Sensex rallied 382.95 points to 52,232.43 and Nifty climbed 114.20 points to 15,690.40.