Market Likely To Open In Green

Indian stock markets finished lower for the sixth straight session on Monday after a private survey showed that India’s manufacturing sector cooled to its slowest in nearly two years in October. Weak Asian cues, weak second quarter earnings and NDA's likely loss in Bihar elections drove too dampened sentiments. The Sensex fell 97.68 points to 26559.15 and the Nifty declined 15 points to 8050.80 where as the broader markets closed flat.

India’s manufacturing sector growth slipped further and touched a 22-month low in October largely due to a slower increase in new orders, but firms hired additional workers. The Nikkei India Manufacturing PMI — a composite monthly indicator of manufacturing performance — stood at 50.7 in October, down from 51.2 in September, reflecting a weaker improvement in business conditions across the sector.

U.S. stocks closed higher by nearly one per cent or more Monday as investors brushed off weak manufacturing data and focused instead on a spate of deals and earnings. The S&P 500 rose 24.69 points, or 1.2%, to close at 2,104.05. The Dow Jones Industrial Average closed up 165.22 points, or 0.9%, at 17,828.76. The Nasdaq Composite rallied 73.40 points, or 1.5%, to close at 5,127.15. In U.S. economic news, October ISM manufacturing was 50.1, slightly beating expectations of 50.0 but posting a fourth straight month of decline. Construction spending rose 0.6 per cent in September.

European stock markets erased earlier losses and closed higher on Monday after a gauge of factory activity for the eurozone unexpectedly improved. Markit Economics said its Purchasing Managers' Index (PMI) for the euro area's manufacturing sector rose to 52.3 last month from 52.0 in September. The Stoxx Europe 600 index rose 0.3% to end at 376.75, scoring its first rise in three sessions. The DAX 30 index rose 0.9% to close at 10,950.67 and the CAC 40 index gained 0.4% to end at 4,916.21. The U.K.’s FTSE 100 index closed in positive territory, but was basically flat at 6,361.80.

China's key Shanghai Composite index lost early gains to slip down 0.4% amid jitters surrounding a crackdown on illegal futures trading and ongoing anti-corruption investigations into companies. Markets in Japan are closed for the Culture Day holiday. Australia's S&P ASX 200 index gains 1.13% amid bets the central bank will hold interest rates at a review.. The Kospi index in Seoul climbed 0.53%, while New Zealand’s S&P/NZX 50 Index added 0.34%, rising for the first time in three days and returning to a record high.

A SGX CNX Nifty Index future for November delivery was up 39 points at 8,108. Indian market is likely to open in green due to positive global cues.