Market Is Likely To Open In Green

The Indian equity market ended the week nearly 2 per cent down on account of weak rupee, some selling pressure by foreign institutional investors and concerns over US interest rate hike, due later this month. The Sensex crashed by 490.09 points or 1.88% to settle below 26K level at 25,638.11 and the Nifty dropped by 160.80 points or 2.02% at 7,781.90. Key indices edged lower in three out of five trading sessions during the last week. The BSE Mid-cap index was down by 49.46 points or 0.45% to 10,935.11, while the Small-cap index up by 11.68 points or 0.10% to 11,557.52.

The Indian rupee recovered after falling to its lowest levels in more than two years on Friday. The rupee had fallen to its lowest levels in the last 27 months on the back of sustained selling by foreign portfolio investors (FPIs) in the Indian equity and debt markets. On Friday, Indian rupee ended at Rs 66.70 per US doller, lower by 5 paise from its previous close of Rs 66.65 per US doller on Thursday.

U.S. stocks market gained 2% Friday on increased certainty of divergent central bank policy, with a strong U.S. jobs report cleared the way for the Federal Reserve to raise interest rates. The S&P 500 and Dow industrials had posting their biggest one-day gains in nearly three months. The S&P 500 gained 41.97 points, or 2.05%, to 2,091.60 and was flat over the week. The Dow Jones Industrial Average jumped 369.96 points, or 2.1%, to 17,847.63 and gained 0.3% over the past week. The Nasdaq Composite ended the session up 104.74 points, or 2.1%, to 5,142.27 and posted a 0.3% weekly gain.

European stocks fell Friday, with the market logging its worst week in more than three months, as a dive in oil prices dragged down energy stocks. The Stoxx Europe 600 fell 0.4% to finish at 370.64 and for the week, the index marked at 3.4% decline. The U.K.’s FTSE 100 fell 0.6% to 6,238.29. Germany’s DAX 30 index gave up 0.3% to 10,752.10. In Paris, the CAC 40 index moved 0.3% lower to end at 4,714.79 and in Madrid, the IBEX 35 fell 0.1% to 10,752.10. Italy’s FTSE MIB ended a seesaw session up 0.1% at 22,021.36.

Asian stocks opened higher on Monday, after Wall Street welcomed an upbeat U.S. jobs report, with Japanese shares climbing as a weaker yen sent exporters higher. Japan's Nikkei 225 was up 292 points or 1.50% to 19,797 while South Korea’s Kospi index surrenders early gains and now traded at flat. Even Australia’s S&P/ASX 200 and New Zealand’s S&P/NZX 50 Indices both surrenders early gains and now traded flat and negative 0.30% respectively. The Shanghai Composite index was up 2 points or 0.06% at 3,527.

A SGX Nifty 50 Index future for December delivery was down 43.5 points at 7,863. Indian market is likely to open in green. Going forward, during the market movement will depend on domestic macroeconomic numbers i.e. industrial production (IIP) data for October 2015, developments in winter session of the parliament especially its stance on GST Bill, interest of foreign portfolio investors, trend in commodity prices globally and rupee-dollar movement.