Markets set to open on a positive note

Key benchmarks indices are expected to open flat to positive as leads from global markets are encouraging. The SGX Nifty indicates Nifty may open around the level of 10,773.  

Majority of Asian stocks are trading in the green on Thursday after a positive session on Wall Street. Japan’s Nikkei 225 has advanced 32 points, Hong Kong’s Hang Seng index has surged 244 points and China’s Shanghai Composite has risen 11 points.  

Back home, the day began on a nervous note as US President Donald Trump's decision to pull the US out of the Iran nuclear deal and concerns over rise in crude oil prices weighed on the market sentiments. However, IT and private banking stocks led the charge and helped Nifty to reclaim the 10,750-mark, but profit-booking was seen at higher levels, which pulled the index a tad lower from its days high. In the end, Nifty closed with gains of 0.22% at 10,742 and BSE Sensex rose 103 points to finish at 35,319. The broader indices bucked the trend as they slipped 0.53% and 0.27%, respectively.  

The US stocks ended Wednesday’s session firmly in the positive terrain, with the Dow registering a fifth consecutive gain. The rally in oil prices helped lift energy stocks, which ended with gains of 2%. The Dow Jones Industrial Average advanced 182 points to close at 24,542; the Nasdaq climbed 73 points to finish at 7,340 and the S&P 500 rose 26 point to end the day at 2,698.  

The European stocks ended higher on Wednesday. The energy stocks were among the top performers on Wednesday on the back of surge in crude oil prices after the US pulled out from the Iran deal. The DAX of Germany added 0.24%, CAC 40 of France gained 0.23% and the FTSE 100 of UK jumped 1.28%.