Markets likely to make a positive start on upbeat cues from Asian peers

Indian markets are expected to open in the green following positive leads from Asian peers. The markets will watch the results of TCS and IndusInd Bank. The SGX Nifty is pointing that Nifty may open 31 points higher at 10,585.    

Asian equity benchmarks are trading higher in the early deals on Thursday. Japan’s benchmark index Nikkei 225 has gained 151 points; Hong Kong’s Hang Seng has jumped 288 points and China’s Shanghai Composite has risen 20 points.    

Back home, key benchmarks ended Wednesday’s session slightly lower to snap a nine-day winning streak as traders preferred to book profit after a sharp run-up from March lows. The BSE Sensex lost 63 points to end at 34,332 and Nifty settled at 10,526 shedding 23 points. The broader indices ended in the red territory with Nifty Mid-cap and Small-cap losing 0.09% and 0.47%, respectively. Sector-wise, Nifty FMCG and Nifty Media ended as top gainers, with gains of 1.74% and 1.42%, respectively.  

The US stocks showed a lack of direction over the course of the trading session on Wednesday as compared to the strong movement seen during the two previous sessions. The major averages spent much of the day lingering near the neutral line before eventually closing mixed. The Dow dipped 39 points to close at 24,748, while the Nasdaq gained 14 points and the S&P 500 inched up 2 points to finish at 2,709. IBM’s stock tumbled 7.5%, registering its worst one-day decline since April 19, 2013 after analysts noted its earnings performance was on the back of a one-time tax gain.  

The European stock indices extended their winning streak for a second straight session on Wednesday. The FTSE 100 of the UK outperformed the wider European markets after the announcement that inflation in UK had  hit a one-year low of 2.5% in March. The DAX of Germany added 0.04%, CAC 40 of France climbed 0.50% and the FTSE 100 of the UK rose 1.26%.