Positive opening seen for the markets despite sell-off on Wall Street

Indian markets are likely to open in the green with modest gains. The SGX Nifty indicates Nifty may open around the level of 10,774, up by 0.13 per cent.  
  
Asian shares are trading mixed on Monday following sell-off seen on the Wall Street on the last trading session of the week. Hong Kong’s Hang Seng has shed 0.85 per cent, while China’s Shanghai Composite index has added 0.19 per cent. The Japanese stock market Nikkei 225 is closed for public holiday.  
  
Back home, it was bloodbath in the Indian stock markets on the last trading session of the week with the BSE Sensex crashing about 1.89 per cent and Nifty plunging about 1.81 per cent, respectively. After opening the session lower, the indices extended their southward journey to end near the intra-day lows on the back of global growth concerns. The broader indices ended in the red as well with the NSE Mid-cap and Small-cap declining 1.58 per cent and 1.13 per cent, respectively. Talking about sectoral indices, all the indices ended in the red with Nifty IT, Nifty Realty and Nifty Media losing the most.  
  
On the Wall Street, stocks suffered for a third consecutive day of large losses on Friday with the Dow slumping to its worst week since the financial crisis in 2008. Market participants were gripped by fear of a partial government shutdown and on some cautious trade commentary from President Trump’s trade advisor Peter Navarro in an interview. In the economic news, the final estimates for third-quarter GDP showed the economy expanding at 3.4 per cent annualised rate. The Dow Jones Industrial Average fell 1.81 per cent, the tech-heavy Nasdaq tumbled 2.99 per cent and the S&P 500 dropped 2.06 per cent.  

The European stocks ended Friday’s session on a mixed note as traders were in a cautious mood ahead of the weekend. The DAX of Germany added 0.21 per cent, the CAC of France rose 0.04 per cent and UK’s FTSE 100 dipped 0.03 per cent.