The market is poised for a lower start as most Asian equities declined on Friday weighed by ongoing concerns about Greece's possible exit from the euro zone. The recent selling spree by foreign institutional investors may also dampen sentiment.

Foreign institutional investors (FIIs) sold shares worth a net Rs 105.73 crore on Thursday, 24 May 2012, as per provisional figures.

Key benchmark indices snapped two-day losing streak on Thursday, 24 May 2012 and reached their highest level in more than one week as European stocks and US index futures rose after Hewlett-Packard, the world's biggest personal computer maker, late Wednesday, 23 May 2012, unveiled Q2 results that beat analyst expectations. The BSE Sensex jumped 274.20 points or 1.72% to settle at 16,222.30, its highest closing level since 15 May 2012.

Most Asian stocks declined on Friday as weak global data and Europe's fiscal woes limit the gains. Key benchmark indices in Singapore, China, Taiwan, South Korea and Hong Kong were down by 0.10% to 0.61%. Key benchmark indices in Indonesia and Japan rose 0.02% and 0.27%.

US shares closed mixed on Thursday, 24 May 2012 on lack of consensus among European leaders on measures to tackle the region's debt crisis. The Dow Jones Industrial Average was up 33.60 points, or 0.27%, at 12,529.75. The Standard & Poor's 500 index was up 1.82 points, or 0.14%, at 1,320.68. The Nasdaq Composite index fell 10.74 points, or 0.38%, at 2,839.38.