Markets to open in the green tracking positive global cues

Indian markets are expected to open on a cheerful note as the cues from the global markets are supportive. The economic data, which were released after markets hours on Wednesday, are supportive with inflation coming in lower and growth staying constant. The CPI Inflation fell to 3.69 per cent in August and the IIP growth was flat at 6.6 per cent for July. Some of the key data like August wholesale price inflation and August trade balance, currency movement and global developments, especially on the trade war front, will shape up the market trend in the coming sessions. The SGX Nifty has shown a positive trend as it trading higher by 45 points at 11,490.  
  
Asian markets are trading with optimism on Friday amidst easing of trade concerns on reports that the US and China could hold another round of talks as also the strong leads from Wall Street. Japan’s benchmark Nikkei 225 has climbed 222 points, Hong Kong’s Hang Seng has jumped 203 points and China’s Shanghai Composite has added 4 points.  
  
Back home, bulls staged a strong comeback in the last leg of trading, which helped the benchmark index to end near the intra-day highs on Wednesday, with the frontline indices reclaiming their crucial levels of 10,350 (Nifty) and 37,700 (BSE Sensex). The broader market indices ended in the green, with the Nifty Mid-cap and Small-cap closing higher by 0.62 per cent and 0.33 per cent, respectively. Barring Nifty Realty, Pvt Bank and Media which ended in the red, all the other sectoral indices ended in the green with Nifty FMCG, Metal and Pharma being the top gainers.  
  
The US stocks, after opening the session on a positive note, managed to maintain most of the gains throughout the day on Thursday. The buoyancy on Wall Street was seen amid reports suggesting that the US is looking to engage in another round of talks with China and favourable batch of economic data. The Consumer Price Index (CPI) rose 0.2 per cent month-over-month in August, below the Bloomberg expectation of 0.3 per cent gain. The weekly initial jobless claims dipped by 1,000 to 204,000 against estimates calling for a rise to 210,000, with the previous week’s revised level of 205,000. The Dow Jones Industrial Average gained 147 points to close at 26,146, the S&P advanced 15 points to finish at 2,904 and the Nasdaq jumped 59 points to end at 8,014.  
  
The European equities finished with mixed results on Thursday, with the Bank of England and European Central Bank holding their policy stances unchanged. Meanwhile, Turkey decisively hiked its benchmark rate to 24 per cent from 17.75 per cent. The DAX of Germany added 0.19 per cent; but the CAC 40 of France slipped 0.08 per cent and UK’s FTSE 100 lost 0.43 per cent.