Indian markets are expected to open flat on the back of mixed global cues, said ICICIdirect. "We may see earnings led stock specific action. Market participants will also watch the developments over GST, land acquisition bill and the MAT issue for further direction."  

Domestic markets ended negative on Thursday as traders still remain concerned about capital outflows on part of foreign investors on MAT worries and lower-than-expected Q4 earnings posted by some blue chip companies. 

US markets ended positive partly due to bargain hunting and after a report from the Institute for Supply Management that showed that activity in the manufacturing sector continued to expand in April.

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