Nifty to open positive; defensive stocks to be in focus

Markets, as expected, are in consolidation mode. After a fall in Thursday's session markets are expected to open with minor gains on Friday. SGX Nifty is up by nearly 20 points indicating a positive start. 

The US markets after opening with losses managed to close in green. DOW was up 0.15 per cent or 44.81 points, S&P 500 gained 0.39 per cent or 14.08 points while NASDAQ jumped by 0.87 per cent or 103 points. Those shares that are expected to gain from the tougher curbs jumped in Thursday's trading session. 

Asian markets are mostly up with minor gains seen in Shanghai, Kospi and Hang Seng. Nikkei is down by over half a per cent. European markets were down by nearly 1 per cent on Thursday.

Globally, markets take a breather as the Covid cases surge and IMF, G-20 warn that the recovery may be derailed.