(fxcue news) - Indian shares may open on a firm note Friday as signs of resilience in the U.S. labor market lifted global equities. Stock-specific action may be seen, with ABB India, Biocon, Eicher Motors, LIC and Sobha likely to react to their earnings results released after market hours on Thursday. Benchmark indexes Sensex and Nifty fell around 0.7 percent each on Thursday in the wake of weak global cues and the RBI's status-quo rate decision. The rupee consolidated in a narrow range before closing 2 paise lower at 83.97 against the dollar. Asian markets followed Wall Street higher this morning, with benchmark indexes in Australia, South Korea, Hong Kong and Japan rising over 1 percent. China's consumer price inflation grew more than expected in July, while the producer price index shrank at a similar pace as the prior month, data released earlier in the day showed. The dollar held near a one-week high as the yen sagged. Treasuries held steady in Asian trade after falling across the curve Thursday. Oil steadied after a three-day rebound against the backdrop of simmering tensions in the Middle East. Gold inched lower as traders trimmed bets on aggressive Federal Reserve easing in 2024. U.S. stocks rose sharply overnight, and the 10-year Treasury yield hit 4 percent as the latest weekly jobless claims data came in below forecasts, boosting investors' confidence in the U.S. economy. A weaker Japanese yen versus the dollar on BOJ's dovish talk also helped spur a relief rally. The S&P 500 jumped 2.3 percent to post its best single-day gain since November 2022. The tech-heavy Nasdaq Composite soared 2.9 percent and the Dow rallied 1.8 percent following a sharp sell-off seen earlier in the week. European stocks recovered from an early slide to end mixed on Thursday. The pan European STOXX 600 ended flat with a positive bias. The German DAX rose 0.4 percent while France's CAC 40 and the U.K.'s FTSE 100 both dipped by 0.3 percent.