Market Likely To Open In Green

Indian equities market closed at three-month high Thursday, continuing relief rally for the second consecutive session after the approval for composite cap on all foreign direct investment. The Nifty advanced 84 points and reclaiming the 8,600-mark at 8,608, mainly led by gains in banking and oil & gas stocks. The Sensex rallied 247.83 points to 28446.12. The broader markets also gained in line with benchmarks. The BSE Midcap and Smallcap indices rose 1.3% and 0.75%, respectively.

U.S. stocks closed near highs on Thursday, as investors focused on earnings beats amid progress towards near-term resolution in the Greek debt crisis. The Nasdaq Composite rose 64.24 points, or 1.3%, to finish at 5,163.18, a new closing high. The Dow Jones Industrial Average advanced 70.08 points, or 0.4%, to close at 18,120.25. The S&P 500 Index grew by 16.89 points, or 0.8%, to finish at 2,124.29.

Crude oil continued its recent decline with WTI crude price dropping 1% to USD 50.91 a barrel to close out its session. Oil has been under pressure since an Iranian nuclear deal was announced on Tuesday. Brent crude oil climbed 1% to USD 57.90 a barrel.

A rally in European stocks extended into its seventh session Thursday as European Central Bank President Mario Draghi confirmed an increase in emergency funding to Greece by 900 million euros (USD 978 million) over one week. The Stoxx Europe 600 closed 1.4% higher. The CAC 40 in Paris climbed 1.47% to 5,121.50 points and Frankfurt's DAX 30 rose 1.53% to 11,716.76 points. London's benchmark FTSE 100 index gained 0.63% to 6,796.45 points. Spain’s IBEX 35 rose 1.54% to hit a new 1-month high.

Asian stocks mostly advanced early Friday, tracking a positive lead from Wall Street overnight. While the dollar extended gains versus the euro and yen as economic indicators bolstered expectations for a U.S. rate hike by year-end. Japan's Nikkei rose 0.2% on a softer yen, while South Korea's Kospi shed 0.62%. Australia’s S&P/ASX 200 Index little changed. The Shanghai Composite was up 1.5%. However, trading will likely be light, with markets in Indonesia, Malaysia, Singapore and the Philippines closed for public holidays.

A SGX CNX Nifty Index future for July delivery was up 10 points at 8,643. Indian markets likely to open in green. ACC, CARE, CRISIL, Dishman Pharma, GIC Housing Fin, Inox Leisure, Karnataka Bank, NIIT, Omkar Speciality and Vimta Labs would be reporting third quarter earnings today.