Market Is Likely To Open In Green

Chirag Gothi / 26 Oct 2015

Market Is Likely To Open In Green

Asian stocks extended their rally on Monday, after another rate cut in China. A SGX CNX Nifty Index future for October delivery was up 32 points at 8,347. Indian markets likely to open in green on positive global cues.

Indian equities market markets managed to post its third consecutive fourth weekly gain after ECB signalled more stimulus by the end of this year. Going ahead, the results of course will continue to pour in and steer stock-specific movement. All said and done, the comforting factor is that the overall prospects for Indian equities have improved to an extent. For the week: The Sensex resumed higher at 27,242.60 and hovered between a high of 27,305.04 and a low of 26,713.28 before closing at 27,214.60, showing a gain of 135.09 points or 0.50% and the Nifty also moved-up 48.45 points, or 0.50%, to 8,238.15. The BSE Mid-Cap and Small-Cap index rose 1% and 1.29% respectively. Both these indices outperformed the Sensex.

U.S. stocks rallied on Friday after a surprise interest-rate cut from the People’s Bank of China and a string of better-than-expected earnings from heavyweight tech companies. China’s rate cut came after the close of trading in Asia. The S&P 500 closed 22.65 points, or 1.1%, higher at 2,075.16 and gained 2.1% over the week. The Dow Jones Industrial Average rose 157.81 points, or 0.9%, to 17,646.97 and ended the week with a 2.5% gain. The Nasdaq Composite advanced 111.81 points, or 2.3%, to 5,031.86, and gained 3% over the week, its strongest weekly advance since July.

European stocks finished with strong gains on Friday, as a surprise cut in interest rates in China added to the market’s cheer after the prospect for more stimulus from the European Central Bank sparked a rally Thursday. The Stoxx Europe bounced up 2% to end at 377.36. In Frankfurt, the DAX 30 surged 2.9% to end at 10,794.54, while France’s CAC 40 gained 2.5% to 4,923.64. The U.K.’s FTSE 100 UKX jumped 1.1% to finish at 6,444.08.

Asian stocks extended their rally on Monday, after another rate cut in China. Japan's Nikkei rose 1.2% to a two-month high while South Korea's Kospi gained 0.4% and the Australian shares edged up 0.3%. China's Shanghai Composite index elevated 0.7%, as investors cheered the authorities' decision to step up on monetary policy easing.

A SGX CNX Nifty Index future for October delivery was up 32 points at 8,347. Indian markets likely to open in green on positive global cues.

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