Markets may open in the green following positive cues from Asian peers
Today, the markets are likely to make an optimistic start, tracking positive trend among Asian peers and a positive close on Wall Street overnight. Traders will be getting some encouragement with the data released yesterday post-market, reflecting economy's improved performance as retail inflation eased to 2.3 per cent while IIP grew at an 11-month high of 8.1 per cent. The SGX Nifty is currently trading at 10,840 level, up by 52 points.
Asian markets surged higher on Thursday following strong leads from Wall Street overnight. Hong Kong’s Hang Seng has advanced 1.19 per cent, the Japanese stock market Nikkei 225 has added 0.94 per cent and China’s Shanghai Composite Index has edged up 0.09 per cent.
Back home, the stock markets opened nicely higher and scaled higher throughout the day with the Nifty and BSE Sensex registering gains of 1.79 per cent each. Investors were optimistic after appointment of Shaktikanta Das as the new governor of the Reserve Bank of India. The broader indices outperformed the benchmark indices with Nifty Mid-cap and Small-cap jumping 2.64 and 3 per cent, respectively. On the sectoral front, all the indices managed to post gains with Nifty Realty and Nifty Auto gaining the most.
The US stocks rallied on Wednesday, but ended well off the session high. The strength on Wall Street came after President Donald trump said he would get involved with the Meng Wanzhou case if it would help ensure trade with China. Meanwhile, there were some reports that China may be considering changes to its 2025 initiative. On the economic front, the Consumer Price Index (CPI) was flat month-over-month in November. The Dow Jones Industrial Average climbed 0.64 per cent, the Nasdaq surged 0.95 per cent and the S&P 500 advanced 0.54 per cent.
The European stocks finished Wednesday’s session in an upbeat mood after market participants remain optimistic on the prospects of a trade deal between the US and China. The DAX of Germany gained 1.38 per cent, the CAC of France increased 2.15 per cent and the UK’s FTSE 100 gained 1.08 per cent.