Markets may start on a positive note tracking firm global cues

Indian stock markets are likely to make an optimistic start amid firm global cues. Nifty 50 index future on the Singapore stock exchange is currently trading with gains of 27 points at 10,897. Traders will keep an eye on earnings of IT bellwether TCS and the leading private sector bank IndusInd Bank.  

Asian stock markets have gained on Tuesday following strong rally on the Wall Street. Japan’s Nikkei 225 index has climbed 1.02%, Hong Kong’s Hang Seng index is up by 0.52% and China’s Shanghai Composite has added 0.34%.   

Back home, frontline indices had a decent outing as the Nifty and the BSE Sensex recaptured their crucial levels of 10,850 and 35,900, respectively. The broader market outperformed frontline indices, with the Nifty Mid-cap and Small-cap advancing 1.60% and 1.69%, respectively. On the sectoral front, all the sectoral indices ended in the green, with Nifty PSU Bank, Nifty Metal and Nifty Pharma ending as top gainers.  

Monday tuned out to be a fabulous day of trading for the US stocks, with major indices posting their third straight day of gains.  The Dow Jones Industrial Average soared 320 points to close at 24,777, the S&P gained 24 points to finish at 2,784 and the Nasdaq Composite Index jumped 68 points to end the day at 7,756. The data from the Federal Reserve Board showed that consumer borrowing picked up in May with total consumer credit increasing $24.6 billion to a seasonally adjusted $3.9 trillion, up 7.6%. Indeed, this exceedingly strong pace of credit growth points to a buoyant US consumer demand and an extremely robust US economy despite growing trade concerns. 

The European markets ended the Monday’s session in the positive terrain as worries over global trade war eased and hopes for a softer Brexit deal with European Union were raised by the resignation of Brexit Secretary David Davis. The DAX of Germany rose 0.38%, CAC 40 of France increased 0.42% and UK’s FTSE 100 finished higher by 0.92%.