Markets likely to see positive opening

Key Indian equity market indices are expected to open in the green backed by slightly positive cues from the global markets. The SGX Nifty is trading with gains of 20 points, indicating that the Nifty could open at 10,310 at the opening bell.  

The first phase of the Gujarat elections concluded on December 9 and, as per media reports, voter turnout in the first phase stood approx. 67%. Now, the second phase of voting will be on December 14 and counting of votes will be done on December 18, 2017. All eyes are on the outcome of Gujarat elections.   

Asian stocks are trading with modest gains in early trading on Monday.  Japan’s Nikkei 225 has added 6 points, Hong Kong’s Hang Seng has risen 81 points, while China’s Shanghai Composite has gained 9 points. 

Back home, markets edged higher on Friday, taking the winning streak to a second straight session. The BSE Sensex regained its psychological level of 33,000 and NSE Nifty too regained the 10,250 level. The broader indices also witnessed buying interest, Nifty Mid-Cap and Small-Cap indices rose 0.93% and 0.75%, respectively. Sector-wise, FMCG stocks stepped into the limelight, surging over 2%, followed by pharma and metal stocks.  

The US stocks ended the week on a firm note on Friday, with both the Dow and the S&P 500 closing at new record highs. The optimism on the Wall Street followed the release of a report from the Labour Department showing better than expected job growth in the month of November. The Dow Jones Industrial Average gained 118 points to close at 23,329, S&P 500 surged 15 points to end at 2,652, while the Nasdaq climbed 27 points to finish at 6,840.    

European stocks ended the week on a positive note, with the FTSE 100 of the UK rising by about 1% followed by the DAX of Germany and the CAC 40 of France gaining 0.83% and 0.28%, respectively. The stocks gained after the UK and the EU made a breakthrough on Brexit divorce terms, clearing the way for the next stage of negotiations.