Markets may open flat to negative as global markets are still in party mood

Indian benchmark indices showcased an audacious performance and went on to outshine indices around the world by vivaciously rallying around a per cent in the session and settling above the psychological 8,150 (Nifty) and 26,600 (Sensex) levels on Friday. Sentiments remained up-beat with Finance Minister, Arun Jaitley’s statement that the impact of demonetisation is clearly visible with tax collection figures seeing double-digit growth. He had said that there has been a 26.2 per cent increase in central indirect tax collection till November 30; while till December 19, direct tax collection increase has been to the extent of 14.4 per cent against a growth rate of only 8.3 per cent in the previous year. Adding optimism among investors, Agriculture Minister, Radha Mohan Singh said that the growth in agriculture and allied sectors will be higher during this fiscal as the country is likely to harvest bumper crop buoyed by good rains. The minister also gave assurance that the centre will procure pulses and other crops if rates fall below the minimum support price (MSP) level.European markets finished higher on Friday with shares in France leading in the region. The CAC 40 is up 0.49 per cent, while London’s FTSE 100 is up 0.32 per cent and Germany’s DAX is up 0.26 per cent. The U.S. stocks ended the final trading session of 2016 with small losses, but logged solid annual gains. The Dow Jones Industrial Average ended with decline of around 57 points to 19,763. On a yearly basis, the blue-chip gauge advanced more than 13 per cent. The S&P 500 declined 0.46 per cent to end at 2,238.8, but finished with a yearly gain of more than 9.5 per cent. The Nasdaq composite ended the day off 0.91 per cent at 5,383.12, but saw a 7.5 per cent annual rise.
 
Asian markets are shut on account of the New Year holiday.At 8:02 am, SGX Nifty index is trading slightly in negative terrain at 8,178, down by 6.5 points. Indian equity markets look set to kick-start 2017 on a flat to negative note. 

SGX Nifty

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