Indian markets are likely to open flat tracking the SGX Nifty and Global markets, said Angel Broking in its report.

After a sharp fall the day before the US markets saw some rebound on Thursday as bargain buying helped in strength in the index. Though there were still some volatility in the markets and most of the indices opened on a nervous note, major averages ended the day firmly in positive territory. It seems traders may have felt yesterdays sell off was overdone. The rebound in the US markets also came following the release of some upbeat economic data, including a report from the Labor Department showing another unexpected drop in initial jobless claims in the week ended May 13th.

The European markets declined in the early trades during the day but subsequently recovered on the back of positive cues from the Wall Street and ended with minor losses for the day.

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