Expect Positive Opening Over Global Positive Cues

First time in last four trading sessions, domestic markets showed good strengths and the BSE sensitive index reclaimed 2700 mark in yesterday’s trading session. the bullishness from Asian markets supported by the domestic auto companies as the Tata Motors’ JLL auto sales number came strong. Also Maruti Suzuki started the festive season by launching new Baleno model in the market. After opening the day on a positive note, the Indian Indices continue to trade in green and register a high of 8190.55 led by Auto and Banking Stocks. The breadth for the Nifty index has turned positive from negative in today’s trading session, as the advance decline ratio ended on the positive side. Out of 50 stocks 36 stocks closed in the green, whereas 13 stocks closed in the red.

European markets closed sharply higher slashing three days losses yesterday with shares in Germany leading the region. The DAX was up 1.50 per cent while France's CAC 40 was higher by 1.44 per cent and London's FTSE 100 was up 1.10 per cent. the US markets too showed good strength after the macro economic data release US price and jobless claims data paring the possibilities of rate cut by US Fed reserve during this calendar year. American markets finished broadly higher yesterday with shares in Nasdaq leading the indices. The Nasdaq was up 1.82 per cent while S&P 500 was up by 1.49 per cent and Dow jones was up by 1.28 per cent.

Today morning, Japanese markets rose after gains on Wall Street and upbeat US price and jobless claims data eased recent concerns over the US economy, while rising expectations of further Bank of Japan stimulus fuelled buying. The other Asian markets are too trading higher today as Chinese and Hong Kong shares show gains. The Nikkie was treading up by 1.36 per cent while the Hang Seng was trading up by 0.75 per cent. the Australian ASX was trading up by 0.92 per cent.

The SGX Nifty was too trading up by 0.11 per cent along with other Asian markets. We may expect positive opening over positive global cues.