(fxcue news) - Indian shares may open on a flat note Friday as investors react to firm cues from overseas markets and mixed economic data on the domestic front. Official data showed India's consumer price inflation rose marginally in August but remained well within the central bank's tolerance band. Consumer prices climbed 3.65 percent on a yearly basis in August, marginally faster than the revised 3.60 percent rise seen in July. The rate was seen at 3.55 percent. Separate set of data revealed that India's industrial production growth improved slightly in July. Industrial production grew 4.8 percent from a year ago, following a 4.7 percent rise in June. Output was forecast to climb again by 4.7 percent. Adani Group stocks could be in focus today after U.S. short-seller Hindenburg Research alleged, citing newly released Swiss criminal court records that the Swiss authorities have frozen more than $310 million in funds across six Swiss bank accounts linked to the Group as part of an investigation into allegations of money laundering. However, the Adani Group in a statement called the allegations baseless, preposterous, irrational and absurd. "We have no hesitation in stating that this is yet another orchestrated and egregious attempt by the same cohorts acting in unison to inflict irreversible damage on our group's reputation and market value," the Adani Group said. Benchmark indexes Sensex and Nifty jumped 1.8 percent and 1.9 percent, respectively on Thursday to reach new record highs amid massive buying across sectors. The rupee moved in a narrow range before ending 4 paise higher at 83.95 against the dollar. Asian markets were muted this morning and Treasury yields fell while the yen rose to around 141 per dollar. Gold hovered near record levels and was set for a weekly gain, driven by ECB rate cuts and expectations of a Federal Reserve rate cut next week. Oil extended gains after climbing more than 2 percent on Thursday as storm Francine disrupted production in the Gulf of Mexico. U.S. stocks ended higher overnight despite slightly hotter-than-expected U.S. producer price data and Moderna forecasting lower sales next year. Data showed jobless claims increased marginally last week while the producer price index for final demand crept up by 0.2 percent in August, matching economists' expectations. The annual rate of producer price growth slowed to 1.7 percent from a downwardly revised 2.1 percent in July. The tech-heavy Nasdaq Composite surged 1 percent and the S&P 500 gained 0.8 percent to end higher for the fourth straight day, while the Dow advanced 0.6 percent. European stocks joined the global rally on Thursday as the European Central Bank announced its second rate cut in three months but provided almost no clues to its future steps. The pan European STOXX 600 climbed 0.8 percent. The German DAX rallied 1 percent, France's CAC 40 rose half a percent and the U.K.'s FTSE 100 edged up by 0.6 percent.