Markets to open in the green following positive global leads

Indian equity markets are poised to open the session on a firm note following rally in the global indices. The SGX Nifty indicates Nifty may open with gains of 62 points at 10,794.  

Most equity indices in Asia climbed higher in early trading on Friday, tracking overnight gains in the US markets. Japan’s Nikkei 225 has jumped 193 points, Hong Kong’s Hang Seng has climbed 271 points, while China’s Shanghai Composite has shed 5 points.  

Back home, the benchmark indices snapped their three-day winning streak and closed lower amid volatile trades, weighed down by realty and pharma stocks. Both Nifty and Sensex finished with losses of 0.23% and 0.21%, respectively. The selling pressure was intense in the broader market indices with Nifty Mid-cap and Small-cap index shedding 1.57% and 1.79%, respectively. All the sectoral indices ended in the red, with realty, pharma and media stocks taking a heavy beating.  

The US stocks closed sharply higher on Thursday as investors' sentiments were boosted by better-than-expected economic data. The consumer price index rose 0.2% in April, while core CPI increased by 0.1%. The Dow Jones Industrial Average surged 197 points to close at 24,739 extending its uptrend for the sixth straight session. The S&P 500 rose 25 points to finish at 2,723, thereby reaching its best closing level in almost two months and the tech-laden Nasdaq Composite closed higher for a fifth straight session, advancing 65 points to end at 7,405. The CBOE Volatility Index slipped 1.42% to 13.23, falling for a sixth straight session.  

The European stock indices closed in the green on Thursday after the Bank of England announced its decision to leave the key interest rates unchanged. The Bank of England's decision comes after a first quarter slowdown in economic growth. The DAX of Germany inched up 0.50%, CAC 40 of France added 0.20% and the FTSE 100 of UK rose 0.61%.