Markets likely to open on a positive note!

Welcome to the last trading session of the week! Today, SGX Nifty is flashing green as Asian peers are trading with healthy gains and overnight, Wall Street ended on a positive note. Currently, SGX Nifty is trading up by 98 points at 9,294 level.

Major Asian indices notched up gains on Friday, taking leads from the stronger overnight close on Wall Street. Japan’s Nikkei 225 has rallied 1.92 per cent, Hong Kong’s Hang Seng has added 0.89 per cent and China’s Shanghai Composite has gained 0.50 per cent.  

Back home, on Thursday, the key benchmark indices started off the session with a gap-down and thereafter, the entire day was spent by the index, moving in a defined 100-point range, which is quite rare on a weekly derivatives expiry day. Nifty closed at 9,199.05, down by 0.78 per cent while, BSE Sensex settled at 31,443.38, down by 0.76 per cent. The broader markets had a mixed session wherein, Nifty Mid-cap dipped 0.53 per cent and Nifty Small-cap gained 0.54 per cent. Barring Nifty Media and Nifty PSU Bank, all other sectoral indices ended in red. Meanwhile, Nifty Financial Services and Nifty FMCG were the major decliners. 

Thursday turned out to be a wonderful trading session on Wall Street as the tech heavy Nasdaq turned positive for 2020. The strength on Wall Street comes amid continued optimism about US economy, which is set to reopen at least partially in the near future. Also the news that a Coronavirus vaccine, being developed by Moderna (MRNA) and which received FDA clearance to run phase 2 trial, has added to the positive sentiment. At the end of the day, Dow jumped 0.84 per cent, S&P 500 spiked 1.15 per cent and tech heavy Nasdaq rose 1.41 per cent.

European markets closed on a strong note on Thursday as investors reacted positively to Chinese export data and strong earnings. CAC 40 of France rose 1.54 per cent and Germany’s DAX added 1.44 per cent. FTSE 100 of UK gained 1.40 per cent.