The European markets opened higher on Friday, extending gains from the previous session. The British FTSE was last trading 0.2 percent higher. French CAC was last trading 0.2 percent higher. The biggest European market by volume, German DAX was last trading 0.7 percent higher.

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The Wall Street indices ended higher on Thursday. Dow Jones Industrial Average ended 1.6 percent higher, while S&P ended nearly two percent higher. Nasdaq Composite ended 2.4 percent higher.

The European markets are also taking cues from their Asian counterparts. Most Asian markets gained on Friday. Earlier in the day, the Bank of Japan kept its monetary policy unchanged. At the last count, Japan's Nikkei was last trading 1.4 percent higher, while Hong Kong Hang Seng was 0.9 percent up. China's Shanghai Composite was last trading 1.1 percent higher.

Crude oil prices gained on Friday. At the last count, brent crude futures were trading 0.4 percent higher at $78.5 a barrel. US West Texas Intermediate futures, too, were trading 0.2 percent in the green at $74.9 per barrel.

The Indian markets traded with gains on Friday. At the last count, the Nifty 50 index was trading above 17,950, and Sensex was trading 130 points higher.

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