Markets may open flat

Indian equities are likely to open flat on Friday, Mar. 08, 2013. SGX Nifty is trading at 5,907 (07.26 am), 1.5 points higher than Thursday's closeof 5,905.5.

Asian stocks gained as Japan's economy returned to growth and jobless claims in the U.S. dropped, adding to signs the global economy is recovering. Japanese benchmark index Nikkei 225 rose 155.35 points, or 1.30%, to trade at 12,122.36.

Oil prices rose above USD 91 a barrel Thursday in international markets. New York's main contract, West Texas Intermediate (WTI) light sweet crude for April gained 79 cents to USD 91.22 a barrel. Brent North Sea crude for delivery in April fell six cents to USD 111 a barrel in late afternoon deals, erasing earlier gains.

US stocks closed modestly higher on Thursday, with the Dow ending at a record for a third straight day, as jobless claims data pointed to a pick-up in the labor market's recovery a day before the closely watched payrolls report. The Dow Jones industrial average rose 33.25 points, or 0.23%, to 14,329.49, a record closing high.

Most European stocks advanced as the Federal Reserve said the U.S. economy is growing and the European Central Bank and Bank of England kept their benchmark interest rates on hold. UK's benchmark index FTSE 100 advanced 11.52 points, or 0.18%, to end at 6,439.16.

In the spot market, the Dollar Index increased 0.10% to 82.16 (20:48 ET).

World commodity prices gained on Thursday with the increase in Reuters Jefferies CRB Index by 1.00%.