Markets likely to open on a positive note

Today, the markets are likely to make a flat-to-positive opening amid lacklustre global cues. The SGX Nifty is indicating that Nifty may open with gains of 33 points at 10,426.  

Majority of the Asian markets are flat in early trading on Tuesday. Japan’s benchmark index Nikkei 225 has added 63 points, Hong Kong’s Hang Seng has risen 126 points and China’s Shanghai Composite has gained 16 points. Chinese President Xi Jinping’s scheduled speech at the Boao Forum for Asia will be closed watched by investors for Beijing’s response to the recent escalation in US-China trade tensions.  

Back home, the stock markets on Monday rallied for the third straight session. After opening the session on a muted note, benchmark indices moved higher and closed at almost four-week highs as investors shrugged fears of a global trade war. The BSE Sensex rallied 162 points to end at 33,788 and Nifty rose 48 points to finish at 10,379. The broader indices ended in the green with Nifty Mid-cap and Small-cap gaining 0.39% and 0.13%, respectively. Sector-wise, Nifty FMCG rose 1.13% followed by Nifty Pvt Bank 0.92%.  

After having a blistering start to the week, the US stocks extended their gains as the day progressed. However, the stocks pared most of the day’s gains in the final leg of trade, closing with modest gains on Monday following reports that the Federal Bureau of Investigation raided the office of Michael Cohen, President Donald Trump’s personal lawyer. The Dow Jones Industrial Average rose 47 points to close at 23,980, the S&P 500 added 9 points to finish at 2,613 and the Nasdaq Composite Index was up by 35 points and ended the day at 6,950.  

The European stocks ended marginally higher on Monday. The DAX of Germany climbed 017%, CAC 40 of France gained 0.10% and the FTSE 100 of UK inched up 0.15%.