Markets likely to continue record run

Indian markets are likely to continue their record run on Tuesday following bullish sentiments prevailing in Asian markets and overnight gains on the Wall Street.  The SGX Nifty suggests that Nifty could open up by 31 points around levels of 11,754. 
  
Majority of the Asian markets on Tuesday are having bullish undertone following yet another day of record highs on the Wall Street as the markets rallied on enthusiasm over a new trade deal between the US and Mexico. Hong Kong stock market Hang Seng has added 0.63 per cent and Japan’s benchmark Nikkei 225 index has gained 0.62 per cent, while China’s Shanghai Composite is seen trading below the neutral line.    
  
Back home, it was certainly a bright start for the frontline indices on the back of positive global cues, and as the day progressed, the momentum accelerated to reach yet another milestone of the BSE Sensex at 38,700 and Nifty at 11,700. At the end, Nifty settled with gain of 1.17 per cent at 11,692 and BSE Sensex with gain of 1.16 per cent at 38,694. The broader indices moved in line with the benchmark indices as Nifty Mid-cap and Small-cap rose 1.19 per cent and 0.76 per cent, respectively. Talking about the sectoral performance, all the sectors ended in the green with Nifty PSU Banks leading with gain of 2.16 per cent, followed by Nifty IT and Nifty Pvt Banks.  
  
The US stocks closed sharply higher on Monday, with the Nasdaq and the S&P 500 climbing to new record closing highs and the Dow reaching its best closing level in nearly seven months and closed above the important psychological level of 26,000. The upmove on the Wall Street came as President Trump said that the US and Mexico have reached a preliminary deal to replace the North American Free Trade Agreement. The Dow Jones Industrial Average climbed 259 points to finish at 26,050; the S&P 500 index rose 22 points to end at 2,897 and the Nasdaq Composite Index soared 72 points close at to 8,018.   
  
The European stock indices ended the Monday’s session on an optimistic note amid better-than-expected German business confidence data. The DAX of Germany finished higher by 1.16 per cent; CAC 40 of France advanced 0.86 per cent while UK’s FTSE 100 was closed for a holiday.