Markets may open flat to positive as major peers are in a optimistic mood

Indian benchmark indices got off to a solid start on Friday, and thereafter indices traded in a range with a positive bias, however, tremors of profit booking were witnessed during the second half, which dragged indices lower. Eventually, the NSE’s 50-share broadly followed index – Nifty, plunged by around quarter per cent to settle above the crucial 9100 support level, while Bombay Stock Exchange’s Sensitive Index – Sensex took a fifty-seven points cut, and closed below the psychological 29400 mark.The European markets ended Friday’s session with mixed results. Investors were in a cautious mood due to the upcoming French election. The DAX of Germany climbed 0.18 per cent, but the CAC 40 of France fell 0.37 per cent. The FTSE 100 of the U.K. declined 0.06 per cent.U.S. stocks fell on Friday, but closed off the lows of the day after Trump told the Associated Press he would be releasing a massive tax cut package in the coming week. The Dow Jones Industrial Average slipped 31 points lower to shut at 20,548. The S&P 500 index shed 7 points to close at 2,349. The Nasdaq Composite Index closed lower by 6 points.Most of the Asian markets are trading on a positive on Monday. Japan’s Nikkei 225 gained 263 points and Hong Kong’s Hang Seng advanced 50 points. Whereas, China’s Shanghai Composite slipped 41 points.At 7:56 am, SGX Nifty Index was trading with gains of 9 points at 9138, indicating a flat to positive start for Indian equities.  Index heavyweight Reliance Industries is scheduled to post its quarterly earnings today.

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