Market likely to open in green

Indian equities indices fell for a third consecutive session on Friday, also the market witnessed a weekly fall on concerns over record losses posted by public sector banks; and possibility of an interest rate hike by the US Federal Reserve as early as June impacted market sentiments last week. Regulator SEBI tightened guidelines to check any misuse of P-Notes which also impacted the market sentiments. The Sensex slipped 98 points to end at 25,302 and the Nifty50 dropped 34 points quoting 7,750. In broader markets, Small-cap index fell 0.83% and Mid-cap slumped 0.49%. On a weekly basis, Sensex and Nifty fell 187.67 points or 0.73% and 65.20 points or 0.83%, respectively.

U.S. stocks closed higher on Friday, reversing losses implied earlier in the week as changing expectations about when the Federal Reserve will next raise interest rates impacted the markets. On Friday, the Dow Jones Industrial Average rose 65.54 points, or 0.4%, to 17500.94. The S&P 500 gained 12.28 points, or 0.6%, to 2052.32 and the Nasdaq Composite climbed 57.03, or 1.2%, to 4769.56. On a weekly basis, the S&P 500 gained 0.3%, Dow shed 0.2% and the Nasdaq Composite rose 1.1% after four weeks of losses.

Crude oil prices edged lower Friday, but posted a second straight weekly gain, with the focus remaining on the rebalancing of the market as the global glut faced unplanned supply outages. WTI crude futures settled at USD 47.75 a barrel, down 41 cents and it gained about 4% for the week.

European stocks closed higher on Friday, recording their second consecutive weekly gain as investors’ appetite for risk returned after a selloff was spurred by concerns about the next U.S. interest-rate hike. The Stoxx Europe 600 rose 1.2% to close at 338.01, the U.K’s FTSE 100 gained 1.7% to 6,156.3 as commodity shares bulked up. Germany’s DAX 30 added 1.2% to 9,916.02, and France’s CAC 40 rose 1.7% to 4,353.90.

Asian stocks opened in the mix on Monday with Japan's shares dropping amid renewed strength in yen. Japan’s exports fell for a seventh consecutive month in April as the yen strengthened. Japan's Nikkei 225 index slipped 1.1%. In Australia, the S&P/ASX 200 Index is wavering between positive and negative territories and is trading flat; while the Kospi index in Seoul is rallying 0.25%.  China’s Shanghai composite added 0.62%.

On the domestic front, A SGX Nifty 50 index future for May series is trading up by 21 points at 7,783. Indian markets are likely to open in green and going forward may remain volatile during the week due to F&O expiry. Investors will be keeping an eye on Dish TV, HSIL, PVR, Tata Power and TTK Prestige, results of which are due for release today.