Markets may open on an optimistic note tracking positive cues from Asian peers

Indian markets are likely to kick-off the week on a cheerful note as cues from the Asian markets are positive. All eyes will be on the critical RBI board meet today which is likely to discuss government demands for easy credit to NBFCs and issues relating to PCA framework. Due to this, stocks of PSU banks and NBFCs could see traction in today’s session. The SGX Nifty Index Future has climbed 56 points to 10,754, indicating a roaring start by the bulls.  
  
Majority of the Asian markets are trading in the green on Monday. Hong Kong’s Hang Seng has surged 0.57 per cent, Japanese stock market Nikkei 225 has risen 0.55 per cent and China’s Shanghai Composite index has advanced 0.11 per cent.  
  
Back home, bulls extended their rally on the final trading session of the week with Nifty registering gain of 0.62 per cent to close above the 10,650 mark and the BSE Sensex edged up 0.56 per cent to close at 35,457. The broader indices underperformed the benchmark indices, with Nifty Mid-cap and Small-cap slipping 0.35 per cent each. Among sectoral indices, barring Nifty Metal and Nifty Private Bank, all other sectoral indices ended in the green with Nifty PSU Bank emerging as the top gainer.   
  
The US markets lacked clear direction of Friday and spent a major part of the session oscillating back and forth through the unchanged line before ending the session mixed. Factors such as uncertainty over Brexit deal and industrial production falling short of forecasts kept the gains in check. At the end, the Dow Jones Industrial Average rose 0.49 per cent; the S&P 500 added 0.22 per cent, while the tech-heavy Nasdaq dipped 0.15 per cent.  
  
Traders across Europe were in a tentative mood on Friday with fresh flow of news about the Brexit deal and lingering worries about the Italian budget denting the mood. The inflation data from the Eurozone showed an increase in October at the fastest pace in nearly six years. The DAX of Germany weakened 0.11 per cent, the CAC of France declined 0.17 per cent and the UK’s FTSE 100 dropped 0.34 per cent.