Sensex, Nifty Likely To Have A Positive Opening

By Administrator_India

Capital Sands

The domestic stock markets are likely to open in the green as trends on the back of positive global cues. Trends on SGX Nifty indicate a positive opening for the index in India, with a 74-point gain. At 7:30 am, the Nifty futures were trading at 15,767, higher by 74 points or 0.65 per cent, on the Singapore Stock Exchange.

Asian markets were mixed in Friday morning trade following an overnight drop for the Dow Jones Industrial Average on Wall Street. In Japan, the Nikkei 225 gained 0.14 per cent while the Topix index slipped 0.55 per cent. South Korea’s Kospi traded fractionally higher. The S&P/ASX 200 in Australia advanced 0.17 per cent.

U.S. technology shares jumped on Thursday on optimism around a speedy economic recovery, although the Federal Reserve’s unexpectedly hawkish message on monetary policy kept the S&P 500 subdued.

The Dow Jones was down 0.57 per cent, while the S&P 500 was up 0.06 per cent and Nasdaq Composite was up 1.09 per cent.

Meanwhile, crude oil prices fell nearly 2 per cent from their highest level in years on June 17 as the dollar strengthened after the US Federal Reserve signaled it might raise interest rates as soon as 2023.

Brent futures fell $1.31, or 1.8 per cent, to settle at $73.08 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $1.11, or 1.5 per cent, to settle at $71.04.

On the earnings front, Ashoka Buildcon, Archidply Industries and Balaji Telefilms will announce their quarterly results during the day.

On Thursday, the BSE Sensex was down 178.65 points and Nifty fell 76.10 points to 15,691.40.