The Indian bourses are likely to witness a positive opening on Friday helped by favourable global cues. However, the International Monetary Fund's comment that the recent jump in Covid-19 cases in India posed downside risks to the Fund's April forecast for 12.5 per cent growth in India's economic output in fiscal years 2021 and 2022 could cap the upside.

India reported a record 414,433 new infections and 3,920 deaths on Thursday, according to Worldometer. Besides, corporate results, stock-specific developments, and foreign fund flow will remain other key factors for market direction.

On the result front, a total of 25 companies, including Housing Development Finance Corporation, UltraTech Cement, Dabur India, Cholamandalam Investment and Finance Company, and Kansai Nerolac Paints are scheduled to release their quarterly earnings today.

On Thursday, the 30-share benchmark index ended at 48949.76 up by 272.21 points or by 0.56 % and then NSE Nifty was at 14724.8 up by 106.95 points or by 0.73 %. On the global front, On Wall Street, the Dow Jones rose 0.93 per cent overnight, while the S&P 500 gained 0.82 per cent, and the Nasdaq climbed 0.37 per cent.

Asian indices were also positive in Friday's early deals. Japan's Nikkei rose 0.2 per cent, Australia's ASX 200 gained 0.4 per cent, and Hong Kong's Hang Seng was up 0.7 per cent.

Back home, Top traded Volumes on NSE Nifty – Tata Steel Ltd. 46434537.00, Tata Motors Ltd. 45032502.00, State Bank of India 36294427.00, Hindalco Industries Ltd. 31912131.00, Oil And Natural Gas Corporation Ltd. 26083818.00,

On NSE, total number of shares traded was 30.43 Crore and total turnover stood at Rs. 72841.00 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 291056 with a total turnover of Rs. 27587.13 Crore. Along with this total number of contracts traded in stock futures were 814879 with a total turnover of Rs. 64144.20 Crore. Total numbers of contracts for index options were 81958337 with a total turnover of Rs. 7425567.55 Crore. and total numbers of contracts for stock options were 1645674 with a total turnover of Rs. 134864.83 Crore.

The FIIs on 06/05/2021 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 5379.06 Crore and gross debt purchased stood at Rs. 311.25 Crore, while the gross equity sold stood at Rs. 5836.60 Crore and gross debt sold stood at Rs. 290.22 Crore. Therefore, the net investment of equity and debt reported were Rs. -457.54 Crore and Rs. 21.03