Markets to open in green; Tata Group stocks in focus

Indian markets started the last week of October on a softer note and it swung on either side, remaining within a narrow range. Markets were supported by positive global cues. However, the biggest shocker came in the evening when Tata Sons announced replacement of Tata Sons Group chairman, Cyrus Mistry after a board meeting. Nifty for the first time since October 6 managed to close above 8700; whereas Sensex was also able to scale beyond 28100 on Monday, October 24.

European shares gained in trade on Monday owing to a strong rally in banking stocks. All the major European indices gained in trade except for England’s FTSE as it was down by close to half a per cent, however other markets were up in the range of half to one per cent.

US stocks moved higher in trade on Monday, October 24 with all the indices clocking good gains in trade.

Asian shares gained in trade on Tuesday, October 25 after Wall Street closed with smart gains. All the indices are trading with gains except for Chinese’s CSI and Hong Kong’s Hang Seng Index.

SGX Nifty is trading with gains of 0.10 per cent to the levels of 8731. We expect markets to open in green following global markets. Tata Group stocks are likely to hog the limelight along with Bank index.