2019 to witness a muted penultimate day

After a strong comeback by bulls on the final trading session of the last week, the start to the penultimate day of the year 2019 is likely to be a muted one, as global cues are mixed. However, the bulls have an upper hand and as of now, there is nothing incredibly bearish on the charts. Nifty is a 'buy the dips' market until it is above the 12,100 mark. In the meantime, the holiday season is likely to result in low volumes and, in turn, may keep up move of the benchmark index under check. At the time of writing, SGX Nifty was trading at 12,333 levels, that is, down by 8 points. 
 
The Asian markets are trading mixed on Monday morning. Japan’s Nikkei 225 is down by nearly half a per cent while Hong Kong’s Hang Seng and China’s Shanghai Composite are is currently up by 0.21 per cent and 0.08 per cent, respectively.
 
Back home, key benchmark indices snapped their three-day losing streak on Friday by registering gains of around one per cent, tracking firm global cues. BSE Sensex jumped 1 per cent to settle at 41,575 and Nifty rose 0.98 per cent to close at 12,246 level. The buying interest was seen in the broader markets as well. Nifty Midcap gained 1.24 and Smallcap achieved 0.85 per cent. Amongst the sectoral indices, Nifty PSU Bank surged 2.92 per cent and emerged as top gainer followed by Nifty Realty and Nifty Bank.
 
As far as global happenings are concerned, the US markets ended mixed on Friday, with the Dow pushing further into record territory while NASDAQ and the S&P 500 taking a breather. Trading volumes were subdued, as it has been for the better part of the week. Meanwhile, the European markets were back from a two-day break and ended the day with modest gains.