Markets are likely to open on a positive note, taking ques from global markets. U.S. stocks rose on Friday, and the Nasdaq capped its longest stretch of weekly gains in a decade as stress test results, which fueled hopes that the worst is over for the financial sector and reassuring jobs data, which suggested the economic slump is moderating. European shares also ended at their highest closing level in four months on Friday as financials gained ground after stress tests on U.S. banks revealed no nasty surprises and energy stocks tracked stronger crude prices. A recent surge in Asian shares lost steam ahead of US monthly jobs data later on Friday that might signal whether the global economy has indeed hit bottom, after stress tests on US banks offered no real surprises.
According to provisional data on NSE, foreign funds sold stocks worth a net Rs.
100.89 crore on Friday, 08 May 2009. Domestic funds bought shares worth a net Rs.
89.39 crore yesterday.
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