Bullish global cues suggest positive start for the markets

Indian shares are expected to extend the jubilant mood with a positive start on the back of bullish global cues. The SGX Nifty suggests that the Nifty could open above 10,600 landmark with gains of 41 points at the opening bell.   

Majority of the Asian markets edged higher in the morning trade on Monday following positive cues from the US markets. China’s Shanghai Composite has added 2 points, while Hong Kong’s Hang Seng is trading below the neutral line. Japan’s Nikkei remained closed for the day.  

Back home, markets hit fresh record highs on Friday, riding on a rally in the global markets. The broader indices outperformed benchmark indices, as the NSE Mid-Cap and Small-Cap indices rose 0.90% and 0.95%, respectively. Sector-wise, Nifty Media emerged as a star performer as it surged 1.45% followed by Nifty Pvt Bank. At the end of the day, BSE Sensex closed at 34,154, up by 184 points, and Nifty gained 54 points to close at 10,559.  

In the US, major indices continued their winning streak for the fourth straight session on Friday, reaching new record closing highs. The Dow Jones Industrial Average rallied 221 points to finish at 25,296, Nasdaq surged 59 points to close at 7,137 and the S&P 500 rose 19 points to end at 2,743.  

On the last trading session of the week, European markets edged higher for the third consecutive day. The DAX of Germany gained 1.15%, CAC 40 of France rose 1.05% and FTSE 100 of the UK added 0.37%.