Markets may start with minor gains

The diminishing prospects of an all-out trade war and the rupee rallies to two-month high to close below 72-mark against the US dollar are a big boost for the Indian markets and thus we could see an optimistic start to the day. The SGX Nifty Index Future has nearly gained 0.38 per cent, suggesting Nifty may open around the level of 10,663.  
  
Asian markets were mixed on the final trading session of the week, shrugging off robust close on the Wall Street. Hong Kong’s Hang Seng has lost 0.73 per cent and the Japanese stock market Nikkei 225 has shed 0.45 per cent, while China’s Shanghai Composite index has added 0.06 per cent.   
  
Back home, key equity benchmarks ended Thursday’s session with modest gains with Nifty recapturing its crucial 10,600 mark and BSE Sensex attaining 35,200 level. After a flat start, the indices traded in a capped range for the initial part of the session, and as the day progressed, the indices added some gains. But during the last leg of trading, profit booking was seen and indices pared some of their gains. Among the broader indices, Nifty Mid-cap registered gain of 0.48 per cent and Nifty Small-cap settled with minor gain of 0.11 per cent. Talking about sectoral indices, barring Nifty IT, all other sectoral indices ended in the green with Nifty Realty and Nifty Financial Services being the top gainers.  
  
The US markets started the day on a negative note; it seemed that the decline in the previous session would extend further following news of the resignation of UK Brexit Secretary Dominic Raab and disappointing earnings from a few retailers. However, a report stated that the US and China have intensified efforts to reach a trade agreement at the G20 summit later this month and this helped the stocks to bounce back as the day progressed. Investors received another cheerful news as retail sales in the US increased more than anticipated in the month of October. In the end, the Dow Jones Industrial Average climbed 0.8 per cent; the S&P 500 advanced 1.1 per cent and the tech-heavy Nasdaq soared 1.7 per cent.  
  
Majority of the markets across Europe turned red on Thursday after four British ministers resigned in protest against Prime Minister Theresa May’s Brexit proposal. The DAX of Germany slipped 0.52 per cent and the CAC of France fell 0.70 per cent, while the UK’s FTSE 100 added 0.06 per cent.