Nifty Likely To Open In Positive

Markets were in a positive mood after surprise announcement of 25 basis points rate cut by RBI on Thursday. For the week, the BSE index zoomed up by 663 points to regain 28K level to 28,121.89 and Nifty crossed 8,500-mark for the first time after a month and ended at 8,513.80, a gain of 229.30 points, or 2.77%. Benchmarks indices marginally outperformed the broader markets; BSE small-cap and CNX mid-cap indices gained 1-2.2%.

The oil marketing companies have slashed diesel and petrol prices by Rs 2.25 and Rs 2.42 per litre, respectively. However, the excise duty on the products was hiked by Rs 2 per litre.

U.S. stocks ended the roller-coaster week on a high note, as the price of crude swung higher and calmer currency markets provided a rare boost of confidence. The main benchmarks broke a five-day losing streak on Friday due to U.S. consumer confidence jumped in January as steady job gains, but still ended the fourth-straight week with losses. S&P 500 closed up 26.75 points, or 1.3%, at 2,019.42, but was down 1.2% over the week. The Dow Jones Industrial Average gained 190.86 points, or 1.1%, to 17,511.57, and lost 1.3% over the week. The Nasdaq Composite ended the day with a gain of 63.56 points, or 1.4%, at 4,634.38, and recorded a 1.5% weekly loss.

WTI crude oil for delivery in February surged USD 2.44, or 5.28%, on Friday to end the week at USD 48.69 a barrel. For the week, WTI oil futures inched up 33 cents, or 0.67%, the first weekly gain in eight weeks.

Germany's DAX was up 5.38% and France's CAC 40 rose 4.80%. The biggest part of their advance happened on Thursday and Friday and owed much to the Swiss monetary policy shock. In contrast to Eurozone indexes, the Swiss Market Index plunged 14.1% in the two trading sessions after popping the cap on the Swiss franc to the euro. Investors are also focused on the European Central Bank, which is widely expected to launch its own stimulus program of quantitative easing this week on Thursday, 22 January 2015.

Asian stocks rose after oil rebounded and U.S. consumer confidence jumped to an 11-year high. Japan’s Topix index gained 0.4%. Australia’s S&P/ASX 200 Index rose 0.9%. New Zealand’s NZX 50 Index advanced 0.3%. South Korea’s Kospi index added 0.9%. However, Chinese stocks tumbled, led by brokerages, after regulators took measures to rein in margin trading at three of the nation’s biggest securities firms. The Shanghai Composite Index sank as much as 4% to 3,245.

SGX Nifty is also trading in positive and higher by 62.50 points. Today, Indian market is expected to open positive. Hindustan Unilever, Atul Auto, Gruh Finance, Hindustan Zinc, Mindtree would be reporting third quarter earnings today.