A firm opening on the cards

Frontline gauge finished last trading session of the week with fractional losses as investors and traders resorted to profit booking after a scintillating rally in the last four trading sessions. The Sensex settled above the psychological 32,000 mark at 32,021 with loss of 0.05 per cent and the Nifty closed down by 5 points at 9,886.

Majority of the European markets ended Friday’s with marginal losses. The CAC 40 of France closed unchanged; the FTSE 100 of the U.K. dropped 0.47 per cent and the DAX of Germany lost 0.08 per cent.

U.S Stocks pulled back off their best levels going into the close but remained firmly positive on Friday. The Dow Industrials and the S&P 500 closed at record high level. The Dow Jones Industrial Average gained 85 points to close at a record high at 21,638. The S&P 500 index advanced 11 points to finish at a record 2,459. The Nasdaq Composite Index rose 38 points at 6,312.

Asian equities were mostly trading in the positive territory on Monday. Japan’s Nikkei 225 is shut today on the occasion of Marine Day holiday, Hong Kong Hang Seng which has surged 95 points. China’s Shanghai Composite which is trading at 3,182 has slipped 40 points.

Indian equities are likely to open on a firm note, tracking positive cues from global markets and firm cues from the SGX Nifty, which was trading at 9,938 up by 35 points indicated hinted an optimistic opening. ACC and Jubilant Foodworks will report their earnings today for the April-June quarter.