Markets likely to open flat

Key Indian indices snapped their two-day winning streak on the back of weak global cues. However, index heavyweights such as Reliance and Lupin helped indices to trim losses and settle with marginal losses. The BSE Sensex gained 124 points to close at 31,369, while the CNX Nifty was up by 37 points to close at 9,675.  

The majority of European markets ended Friday’s session with minor gains. The DAX of Germany climbed 0.06 per cent, but the CAC 40 of France fell 0.14 per cent. The FTSE 100 of the U.K. gained 0.19 per cent. 

The US stocks finished the last trading session of the week firmly in positive territory as the jobs report showed a higher-than-expected gain in the month of June. The Dow Jones Industrial Average climbed 94 points to finish at 21,414. The Nasdaq Composite Index jumped 64 points to close at 6,153. The S&P 500 index rose 15 points to end at 2,425.
 
The stock markets in Asia surged higher on Monday. Japan’s Nikkei 225 has advanced 131 points to 20,060; Hong Kong index Hang Seng has surged 204 points to 25,545 and China’s Shanghai Composite has gained 3 points to 3,221.
 
Indian stocks are likely to open flat on Monday. The SGX Nifty index is trading with nominal gain of 12 points at 9,686, indicating a flat start for Indian indices. On Friday evening, the capital markets regulator Securities and Exchange Board of India (SEBI) banned foreign portfolio investors (FPIs) from issuing offshore derivative instruments (ODIs) or P-notes for derivatives as underlying.