Markets may start on a positive note tracking global cues

Indian benchmark indices are likely to make a positive start as cues from global markets are positive. The SGX Nifty indicates that the Nifty could open at 10,498 with gains of 18 points at the opening bell.   

Majority of the Asian market indices are trading in the green on Thursday, supported by gains on Wall Street. Japan’s Nikkei index jumped 560 points, Hong Kong’s Hang Seng has added 50 points and China’s Shanghai Composite has gained 9 points.  

Back home, after opening on a firm footing, markets scaled higher ground. However, selling pressure emerged in the afternoon session and markets pared most of the gains and closed near the neutral line. Buying interest was seen in the broader indices as Nifty Mid-Cap and Small-Cap surged 0.68% and 1.29%, respectively. Sector-wise, Nifty Metal gained for the second session and surged 1.45%, followed by Nifty Realty. At the end of the day, BSE Sensex settled at 33,793 lower by 19 points and Nifty closed at 10,443.  

In the US, stocks moved higher during trading on Wednesday, with the main benchmarks climbing to new record closing highs. The sentiments remained upbeat as a report released by the ISM said its Purchasing Manager's Index rose to 59.7 in December from 58.2 in November. The Dow Jones Industrial Average settled at 24,923 with gains of 99 points, Nasdaq gained 59 points to close at 7,066 and S&P 500 climbed 17 points to finish at 2,713.  

The European markets ended Wednesday’s session on a cheerful note. The CAC 40 of France surged 0.81%, DAX of Germany rose 0.83% and the FTSE 100 of the UK added 0.30%.