Markets likely to open positive to continue on its upward journey

On Monday, we expect Indian markets to continue its upward trajectory. The SGX Nifty, which was trading up by 9 points at 11,326, indicated that domestic bourses may open in the green at the opening bell. Among Nifty 50 companies, Axis Bank, HDFC and Tech Mahindra will announce their results today. The owner of brands like ‘W’, ‘Aurelia’ and ‘Wishful’, TCNS Clothing is set to make its debut on the bourses today. 

Majority of the markets in Asia have kicked off the first day of the trading week with modest declines following weak cues from the Wall Street. Japan’s Nikkei 225 is down by 0.55 per cent and Hong Kong’s Hang Seng index lost 0.16 per cent, while China’s Shanghai Composite has edged up 0.60 per cent. 

Back home, Friday turned out to be a fabulous day of trading for the key benchmark indices as frontline indices logged new record highs, conquering their crucial levels of 37,300 (Sensex) and 11,250 (Nifty) for the first time ever. The broader markets also witnessed buying interest as Mid-cap and Small-cap indices ended higher by 0.90 and 1.15 per cent, respectively. On the sectoral front, barring Nifty PSU, all other indices ended in the green with Nifty FMCG and Nifty Metal leading the gainers list. 
 
The US stocks ended Friday’s session in the red but off their lows of the session. Investor sentiments turned negative following disappointing results from Twitter, Intel and Exxon Mobil. Meanwhile, a report from the US Commerce Department showed a significant acceleration in the pace of US economic growth in the second quarter, though; it was slightly below the predicted  4.2 per cent rate. The Dow shed 76 points to close at 25,451, the Nasdaq plummeted 115 points to finish at 7,737 and the S&P 500 slipped 19 points to end at 2,819.    

The European indices registered mild gains at the end of the trading week. The DAX of Germany rose 0.40 per cent; CAC 40 of France added 0.57 per cent and UK’s FTSE 100 climbed 0.50 per cent.