Market set to open higher on firm Asia trend

Indian Indices:

The key domestic benchmarks are likely to open higher today tracking a firm trend in most Asian markets after a positive closing at Wall Street on Friday. SGX Nifty is trading 1.00 points lower.

Investors will be eying the November WPI and CII numbers and IIP data for October this week which will offer more cues over the health of Asia’s third biggest economy.

Indices may be set for some consolidation after surging to record highs in recent sessions. With the year drawing to a close, foreign fund inflows may ease in the coming days.

Indian shares fell on Friday, posting their first weekly loss in seven, as investors booked profits in recent outperformers after indexes hit record highs, while caution prevailed ahead of U.S. jobs data later in the day. The S&P BSE Se nsex and CNX Nifty ended 0.37%-0.30% lower each.

On (Friday 05, 2014) Sensex ended down 105 points at 28,458 and the Nifty ended down 26 points to close at 8,538.

Global Market:

Asian stocks eked out gains on Monday in wake of much stronger-than-expected U.S. employment numbers, although sobering data highlighted the sluggishness in the region’s key economies and tempered gains.

US markets closed higher on Friday, better-than-expected nonfarm payroll data. US economy added 325,000 new jobs in the month of November which boosted the sentiments.

European stocks rallied on Friday, with Germany’s DAX hitting a record closing high, boosted by data showing U.S. employers took on the most workers for nearly three years in November.

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