Asian markets traded higher with Japan's Nikkei rising 0.9 percent.

The Indian rupee has opened marginally lower at 70.74 against the US dollar, against Thursday's close of 70.72 a dollar.

Tractor maker Escorts said its agri machinery segment (EAM) in February 2019 sold 7,240 tractors registering a growth of 12 percent against 6,462 tractors sold in February 2018.

Domestic tractor sales in February 2019 at 6,918 tractors increased 9.9 percent against 6,295 tractors in February 2018. Export grew by 92.8 percent to 322 tractors against 167 tractors sold in February 2018.

Benchmark indices were higher in pre-opening trade. The Sensex gained 76.79 points at 35,944.23 and the Nifty rose 52.50 points to 10,845.

DHFL plunged 10 percent after ICRA has withdrawn its rating and CRISIL downgraded rating.

Index stayed on volatile ground in narrow range of 10,850 to 10,780. Nifty has formed Shaven Top which implies that sellers were active from initial ticks but not stronger enough to pull prices on lower side, Emkay said.

In spite of being on volatile ground, index is operating within its 11-week range of 11,100 to 10,600, it added.

So going forward index seems to be cusp of sideways move, according to the research house.

Below 10,770 index can face more selling pressure and on higher side 10,880 seems immediate resistance point, it said.

Auto components major Motherson Sumi Systems said it will acquire Bombardier's UK rolling stock electrical component and systems business in a transaction valued at 10.87 millions pounds (over Rs 100 crore).

The company's wholly-owned arm Motherson Rolling Stock Systems GB Ltd (MRSS) has signed a definitive agreement with Bombardier Transportation (Rolling Stock) UK Ltd to acquire the latter's assets in connection with production and installation of electrical components and systems for applications in the rail industry, Motherson Sumi Systems Ltd (MSSL) said in a statement.

These assets also includes manufacturing of wiring harnesses, panel and cabinet build and electromechanical assemblies in Derby, UK, it added.

SGX Nifty futures, which were up 5 points, indicated that there could be flat market opening.

Most experts believe that geopoliticial tensions between India and Pakistan seem to have priced in and the focus will shift to general elections, which is likely to take place in April-May, 2019.

"We expect markets to remain volatile in the near term. On the domestic front, any escalation of tensions between India and Pakistan would keep the markets volatile," Jayant Manglik, President - Retail Distribution, Religare Broking said.

He said globally, positive developments on US-China trade deal is good for the global markets, however progress on Brexit deal front, crude oil price and currency movement would be actively tracked by investors.

NALCO approved interim dividend for the financial year 2018-19 at Rs 4.50 per share.

Wall Street’s main indexes fell slightly on Thursday as support from better-than-feared US GDP data was countered by concerns about earnings and US-China trade relations.

Also on Thursday, President Donald Trump said he had walked out of his Vietnam summit with Kim Jong Un because of demands from the North Korean leader to lift US-led sanctions.

The Dow Jones Industrial Average fell 69.16 points, or 0.27 percent, to 25,916, the S&P 500 lost 7.89 points, or 0.28 percent, to 2,784.49 and the Nasdaq Composite dropped 21.98 points, or 0.29 percent, to 7,532.53.

Commerce Department data on Thursday showed that while the US economy missed a 3 percent annual growth target for 2018, a better-than-expected fourth quarter pushed gross domestic product up 2.9 percent for the year.

Japanese manufacturing activity contracted in February at the fastest pace in two-and-a-half years as factories cut back output amid shrinking domestic and export orders, a revised survey showed today.

The survey highlighted the extent of the damage that the US-China trade war has already inflicted on Japan and other export-oriented countries in Asia.

The Final Markit/Nikkei Japan Manufacturing Purchasing Managers Index (PMI) was a seasonally adjusted 48.9, slightly above a flash reading of 48.5 but below January's final 50.3. 

Effective today, equity shares of The Anup Engineering will list on the Bombay Stock Exchange and admitted to dealings on the Exchange in the list of 'T' Group Securities.

The market is likely to see muted start on first day of March series amid positive Asian cues and weak US indices.

Asian markets traded higher despite weak Chinese manufacturing data. Japan's Nikkei gained 0.9 percent, Hong Kong's Hang Seng was up 0.4 percent and Australia's ASX 200 rose 0.5 percent.

South Korea's Kospi and Taiwan's Taiwan Weighted markets are shut for trading.

Company's material wholly-owned subsidiary, Jubilant Pharma Limited (a company incorporated under the laws of Singapore) has successfully priced its rated unsecured bonds at 6.00% per annum issued at par for $200 million maturing in March, 2024. 

S&P Global Ratings has affirmed BB-/positive rating and Fitch Ratings affirmed BB-/Stable rating for Jubilant Pharma (the issuer of the Notes). The Notes have been rated BB- by S&P and BB by Fitch.

The major portion of the net proceeds of the Notes shall be used to refinance existing indebtedness and pay associated fees and premiums over a period of time and the balance amount for working capital and general corporate purposes, company said.

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