Indian markets may open positive, eye on F&O expiry

Indian capital markets witnessed bullish trend due to clearance of 7th pay commission, Model Shop & Establishment Act. Both consumption driven announcements boosted up BSE Sensex and Nifty.

Indian equities markets witnessed positive trend on Wednesday. Nifty was able to cross 8200 level. The Sensex increased 215.84 points or 0.81% quoting 26740.39; and the Nifty upped 76.15 points or 0.94% quoting 8204. Overall sectoral indices experienced positive scenario during entire session on Wednesday. However, FMCG index declined by slightly 0.14% during the session.

The Dow Jones industrial average increased 284.96 points, or 1.64%, quoting 17695. The S&P 500 index also rose 34.68 points, quoting 2071. However, U.S. benchmark crude, WTI decreased 0.96% to USD 49.4, while Brent crude, the international standard, also reduced 1.19% to USD 50.01.

Post BREXIT worries, European stocks rallied on Wednesday. Germany's main index, the DAX, increased 1.75% to 9612 along with France's CAC 40, which too rose 2.6% to 4195. Britain's FTSE 100 increased 3.58% quoting 6360.

Markets in Asia are trading higher and joined the global rally during the morning session on Thursday. However, the Shanghai Composite index decreased by 0.13%. Japan’s Nikkei 225 index increased by 0.64%. Australia’s S&P/ASX 200 Index rose by 1.40%; while New Zealand’s S&P/NZX 50 Index increased 1.21%. South Korea’s KOSPI also increased 0.25%. The Hang Seng Index too is up 1.15%.

While on domestic front, A SGX Nifty 50 index future for June series traded down by 39 points at 8247. Indian markets are likely to open in positive. However volatility in market may be seen due to F&O expiry of June series on Thursday.