Market Likely To Open In Green

Indian equities market rose on Friday to post their biggest weekly gains since mid-June, tracking a rally in global markets on hopes the US Federal Reserve may won’t rush to raise interest rates. The Sensex gained 233 points, or 0.87%, on Friday to close at 27,079, it’s highest in the past seven weeks. The Nifty rose 60 points, or 0.78%, to close at 8,189. For the week, the Sensex rose 858.56 points, or 3.27%, and the Nifty gained 238.80 points, or 3%, to settle at its highest closing level since August 21. The BSE Mid-Cap and the BSE Small-Cap indices underperformed the Sensex during the week. The BSE Mid-Cap index rose 119.08 points or 1.1% to settle at 10,937.76. The BSE Small-Cap index rose 305.98 points or 2.77% to settle at 11,348.58.

U.S. stock market closed out its best week this year with a modest gain Friday, as investors digested indications from the Fed on the timing of a rate hike ahead of earnings season. The Dow Jones industrial average rose 33.74 points, or 0.2%, to 17,084.49. The S&P index rose 1.46 points, or 0.1%, to 2,014.89 and the Nasdaq composite rose 19.68 points, or 0.4%, to 4,830.47. For the week: S&P 500 up 3.3% at 2014.89 and the Dow Jones industrial average up 3.7% at 17084.49. Nasdaq composite up 2.6% at 4830.47.

Crude oil prices were little changed at the end of a volatile session on Friday U.S. crude having failed to close above the USD 50 level, but expectations for continued declines in production underpinned prices. U.S. crude settled up 20 cents at USD 49.63 a barrel, up more than 8% for the week. Brent crude was down 45 cents at USD 52.60 a barrel and posted a weekly percentage gain of 9.39%, also the strongest weekly performance in six weeks.

European stock markets also finished firmly higher on Friday. The Stoxx Europe 600 index rose 0.3% to close at 362.82 for a sixth straight session in positive territory, the longest winning streak since mid-July. For the week, the pan-European benchmark climbed 4.3%. The Paris CAC 40 gained 0.54% at 4,701.39 and Frankfurt's DAX 30 stocks index rallied 1.04% to 10,096.60 points. Germany’s DAX 30 index gained 1% to 10,096.60, also logging its best week, up 5.7%, since December 2011. France’s CAC 40 index added 0.5% to 4,701.39, for a 5.4% weekly advance, the largest since January. The U.K.’s FTSE 100 index closed up 0.7% at 6,416.16. The benchmark rose 4.7% for the week, the largest weekly decline since December 2011.

Asian stocks outside Australia and Singapore advanced on Monday; Chinese equities leading gains after a rebound in the commodities complex prompted some investors to hunt for bargains while the dollar struggled. Meanwhile, markets in Japan are closed for the Health and Sports Day holiday. China's share markets widened gains early Monday, with the Shanghai Composite rising 2.5%. Australia’s S&P/ASX 200 Index dropped 0.74% in Sydney, after posting its steepest weekly advance since 2011. New Zealand’s S&P/NZX 50 Index climbed 0.77%, while the Kospi index in Seoul added 0.5%.

A SGX CNX Nifty Index future for October delivery was up 44 points at 8,240. Indian market is likely to open in green following other Asian market. Today, corporate earnings season start with IT major Infosys. TCS announces its result on Tuesday, 13 October 2015. Hindustan Unilever and Zee Entertainment Enterprises will declare on Wednesday, 14 October 2015 and Reliance Industries will announce it’s on Friday, 16 October 2015.

Among the key macro economic data, the consumer price index (CPI) data for the month of September 2015 release after market hours on Monday, 12 October 2015. The industrial production data for August 2015 also release after market hours on Monday, 12 October 2015.