Markets likely to see positive opening following upbeat global cues

Indian markets may continue with their upside momentum as cues from Asian markets are stable and Wall Street also closed in the positive territory in overnight trading. The SGX Nifty Index Future was trading higher by 28.50 points at 10,719.50.  
  
Majority of the markets in Asia were trading in the green on Wednesday following stable cues from Wall Street overnight. The Japanese stock market Nikkei 225 has surged 0.88 per cent and Hong Kong’s Hang Seng has risen 0.61 per cent, while China’s Shanghai Composite index has shed 0.08 per cent.  
  
Back home, benchmark indices extended their northward rally for the second day in a row amid volatility on Tuesday. The BSE Sensex surpassed its crucial psychological mark of 35,500 and gained 0.45 per cent and Nifty rose 0.54 per cent to close at 10,686. In line with the benchmark indices, the broader indices the Nifty Mid-cap and Small-cap registered gains of 0.51 and 0.55 per cent, respectively. Talking about sectoral performance, Nifty IT and Nifty PSU Bank climbed 1.43 and 1.01 per cent, respectively, while Nifty Pharma slumped 1.33 per cent.  
  
The US stocks bounced back from an early sell-off on Tuesday to end with modest gains. Things appeared rough at the open after renewed concerns over trade as President Donald Trump said in an interview that it is highly unlikely that he will refrain from raising 10 per cent tariff to 25 per cent on $200 billion worth of Chinese goods. In stock-specific news, Apple and General Motors Company were in action. Donald Trump suggested that the US could slap 10 per cent tariff on iPhones and laptops imported from China and that he was disappointed with General Motors' move and indicated that his administration was considering cutting all subsidies to the company. In the economic news, the consumer confidence slipped to 135.7 in November from an October read of 137.9. The Dow Jones Industrial Average added 0.44 per cent, the S&P 500 advanced 0.33 per cent and the tech-heavy Nasdaq increased 0.01 per cent.  
  
The European markets ended Tuesday’s session with losses as sentiments turned cautious on the back of renewed trade tensions between the US and China. The DAX of Germany dropped 0.40 per cent, the CAC of France weakened 0.24 per cent and the UK’s FTSE 100 dipped 0.27 per cent.