Expect positive opening as Asian markets show strength

The Indian equity markets reported their second straight weekly gain as the Sensex and Nifty firmed up by another 72 points and 25 points, respectively, owing to sustained foreign capital inflows coupled with higher overseas advices. While, on the broader markets front, the BSE Mid-Cap index rose 0.44% and the BSE Small-Cap index lost 0.07. On Friday, the market wavered between gains and losses for most part of the day, but a spurt in crude prices and strong cues from the European markets lifted the mood later in the day. The Sensex ended the day at 24717.99, up 0.38% or 94.65 points, while the Nifty closed at 7,510.20, after gaining 0.32% or 24.05 points on Friday.

U.S stock markets posted their fourth straight weekly gain with a powerful rally, led by Energy and Financial shares on Friday. The rally was largely fueled by a rebound in oil prices, besides the fact that investors took heart in signs of improvement in the U.S. economy. The S&P 500 rose 32.62 points, or 1.6%, to 2,022.19 and recorded a 1.1% gain over the week. The Dow Jones Industrial Average gained 218.18 points, or 1.3%, to end at 17,213.31 and gained 1.1% over the week. The Nasdaq Composite rose by 86.31 points, or 1.9%, to 4,748.47 and recorded a 0.7% weekly gain.

European markets rose sharply as investors hoped that the European Central Bank's latest blast of stimulus policies would help revive the region's economy. The Stoxx Europe 600 rose 2.6%. Germany's DAX gained 3.5%, France's CAC 40 advanced 3.3% and Britain's FTSE 100 rose 1.7%.

Major Asian markets traded higher on Monday, tracking a global rally as traders began to take a more positive view of the European Central Bank's (ECB) monetary policy decision last week. Japan's Nikkei 225 index climbed 1.9% after the yen slid 0.6% against the dollar on Friday. The BOJ's (Bank of Japan's) monetary policy meeting takes place on March 14-15. South Korea’s Kospi index rose 0.2%. Australia’s S&P/ASX 200 Index added 0.7% and New Zealand’s S&P/NZX 50 Index gained 0.9%. Chinese markets were up, with the Shanghai composite advanced 1.93%.

While on domestic front, A SGX Nifty 50 index future for March series traded up 50.5 points at 7,564. Indian markets are likely to open in green on account of positive global cues. Investors must keep an eye on the Consumer Price Index (CPI), which will be releasing on Monday, March 14, 2016. On the same day, data related to inflation, based on the Wholesale Price Index (WPI) for February 2016 is also due to be released by the government. The data on payment of fourth and final installment of advance taxes by India Inc. will be out during the middle of March 2016.