Indian markets are expected to open in positive tracking the SGX Nifty.
Traders reacted positively to an unexpected monetary policy move by the Bank of Japan which led Dow Jones rose 2.5% on Friday. The gains on the day helped the major averages more than offset the steep drop seen on Wednesday. The rally on Wall Street was partly in reaction to the Bank of Japan surprise decision to introduce negative interest rates. Traders were also digesting the latest U.S. economic news which included a Commerce Department report showing a slowdown in GDP growth in the December quarter.
The European markets ended in positive territory with the markets followed their Asian peers higher after the Bank of Japan negative interest rate move. Crude oil prices also continued their recent recovery Friday, rising back to around $34 a barrel.
Indian shares joined the global rally on Friday as oil extended overnight gains. Chinese shares steadied and investors reacted to the the Bank of Japan negative in
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