Markets likely to begin on a positive note

Today, the start is likely to be in the green and the benchmarks will extend their gains on positive regional cues. The market will react to the results of Reliance Industries and also watch the earning results of HDFC and Kotak Mahindra Bank. The SGX Nifty is indicating that Nifty may open higher by 33 points at 10,763.   

Asian shares edged higher on final trading day of the month. Hong Kong’s Hang Seng has climbed 449 points, while Japanese and Chinese markets are closed for holiday.    

Back home, benchmark indices witnessed a gap-up opening and sustained the gap throughout the day. The BSE Sensex gained 256 points to close at 34,970 and the Nifty ended at 10,692 up by 75 points. The broader market indices underperformed the major composites, as Nifty Mid-cap and Small-cap settled with gains of 0.67% and 0.50%, respectively. On the sectoral front, barring Nifty IT, all indices ended in the positive territory. Nifty PSU Bank and Nifty PVT Bank were top gainers.  

The US stocks showed a lack of direction over the course of trading on Friday. The Nasdaq ended around 1 point higher at 7,120 and the S&P 500 inched up 3 points to close at 2,670. The Dow Jones Industrial Average edged down 11 points to finish at 24,311. The trading was choppy on Wall Street as investors digested a mixed batch of earning news from big companies.  

The European stocks ended in positive territory on Friday.  The DAX of Germany rose 0.64%, the CAC 40 of France climbed 0.54% and the FTSE 100 of UK closed up 1.09%.