Positive opening seen for Markets
Indian equity benchmarks are set to witness a gap up opening on Monday as optimism over Asia’s third biggest economy bolsters risk taking appetite. SGX Nifty is trading at 40.00 points higher.
Traders will eye the Services PMI data and the start of the Q1 earnings season this week. The stock of SBI will be in focus after the country’s biggest state-run lender sold 5 percent stake in the national stock exchange for over Rs 900 crore.
On Friday (July 01, 2016), ending at a fresh 2016 high, the 30-share Sensex climbed by 145.19 points or by 0.54% to close at 27,144.91, while the NSE Nifty ended at 8328.35 up by 40.6 points or by 0.49%.
Asian shares shrugged off early losses and edged higher on Monday, while the Australian dollar was under pressure after no clear winner emerged from a weekend election.
US stocks booked a fourth straight daily gain Friday, and the Dow and S&P 500 marked their best week this year as stocks clawed back some of the losses scored in the wake of the tumult that followed the U.K.’s decision last week to sever ties with the European Union.
European shares rose on Friday, lifted by expectations that the European Central Bank would take action to support markets in order to ease worries about the fallout from Britain's vote to leave the European Union.
Major Headlines of the day:
IOC's refinery at Gujarat to supply BS-IV compliant diesel from Jan
NTPC commences socio-economic survey for Kaniha expansion
Wonderla Holidays expects Chennai facility to be commissioned in FY19
Trend in FII flows: The FIIs were net sellers of Rs -187.51 Cr in the cash segment on Friday while the DIIs were net buyers of Rs 907.05 Cr, as per the provisional figures.