Markets may open flat to positive propelled by boisterous global cues, further stirred by earnings outcome

Indian benchmark indices started the session on a bullish note and they displayed strength in early part of the trading session, but the sentiments turned pessimistic in the late morning trades and indices started drifting lower, however, the market regained its momentum in the final hour of trade as IT stocks such as Tech Mahindra and Tata Consultancy Services came to the rescue. The NSE’s 50-share broadly followed index Nifty, added single digit gains to settle above the crucial 8,750 support level; while Bombay Stock Exchange’s Sensitive index or Sensex gained around thirty-nine points and ended above the psychological 28,300 mark.The European markets ended Thursday’s session with decent gains. The rebound in crude oil prices provided a bit of a boost to sentiment, but the main attention of investors was on corporate earnings. Robust results from companies like ThyssenKrupp, Total and Societe Generale helped to drive the markets higher.Major US stock indexes closed at record highs on Thursday, spurred on by a rally in financial shares. Sentiment was also buoyed by comments from President, Donald Trump that he will unveil a “phenomenal” tax plan in the next few weeks. The Dow Industrials gained 115 points, while Nasdaq Composite Index added 32 points and the S&P 500 rose 13 points.Asian stocks are trading in positive territory on Friday, where Japan’s Nikkei 225 has surged over 400 points, while Hang Seng gained 131 points and Shanghai Composite climbed 7 points.  At 8:05 am, SGX Nifty index has gained 29 points to 8,830, indicating a positive start for Indian equities. Companies such as SBI, M&M, GAIL and Bosch are scheduled to post their quarterly results later in the day.

SGX Nifty

sgxnifty.org@imediaone.com

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