Sensex, Nifty Likely To Have A Positive Opening

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Sensex, Nifty Likely To Have A Positive Opening

At 7:20 am, the Nifty futures were trading higher by 49 points on Singapore Stock Exchange

The domestic stock markets are likely to open in the green, extending the gains of the previous session, on the back of positive global cues. Trends on SGX Nifty indicate a positive opening for the index in India, with a 49-point gain. At 7:20 am, the Nifty futures were trading at 15,463, higher by 49 points, on the Singapore Stock Exchange.

Asian markets rose on Friday, with the broader Hang Seng index in Hong Kong gaining 0.59 per cent. In Japan, the Nikkei 225 jumped 1.94 per cent while the Topix index advanced 1.78 per cent. South Korea’s Kospi edged 0.56 per cent higher.

U.S. stocks advanced slightly on Thursday as data showing improvement in the labor market helped bolster expectations in the economic recovery and spurred a minor rotation towards stocks seen as more likely to benefit from the rebound.

The Dow Jones rose 0.41 per cent, the S&P 500 gained 0.12 per cent and Nasdaq Composite dropped 0.01 per cent.

Meanwhile, oil prices dipped on Thursday as concern about demand in India and the potential for a rise in Iranian supplies offset optimism over the U.S and European summer driving season.

Brent fell 60 cents, or 0.9 per cent, to $68.27 a barrel and U.S. West Texas Intermediate (WTI) crude fell 57 cents, or 0.9 per cent, to $65.64 a barrel.

On the earnings front, Mahindra & Mahindra, Glenmark Pharmaceuticals, Indian Bank and Ipca Laboratories will declare their Q4 numbers during the day.

On Thursday, the BSE Sensex rose 97.70 points and NSE Nifty Closed at a record high of 15,337.90, up 36.40 points.

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