Positive opening likely following strong global cues

India Infoline News Service | Mumbai | October 06, 2017 08:13 IST

The Indian equity markets are likely to open the last trading session of the week on an optimistic note following positive cues from the Asian peers and strong close on Wall Street in overnight trade.

NSE Buiding
The Indian equity markets are likely to open the last trading session of the week on an optimistic note following positive cues from the Asian peers and strong close on Wall Street in overnight trade. The trends on SGX Nifty suggest markets are likely to open with gains of 24 points at 9,945. 
 
Now, going forward, the level of 9,850 is a crucial support for the Nifty followed by 9,800. On the upside, Nifty has resistance in the range of 9,930-9,950, and if it manages to successfully hold above this level, it may scale up to levels of 10,040-10,080. 
 
Back home, Indian markets snapped four day winning streak to end marginally lower on Thursday. The BSE Sensex lost 80 points to finish at 31,592 and the Nifty50 index slipped 26 points to settle below the 9,900-mark. The market breadth, indicating the overall health of the market, was positive. 
 
The US stock indices ended Thursday’s session firmly in the green as the indices extended their run of record highs. Technology and financial stocks were among the best performing sectors. The Dow Jones Industrial Average ended higher by about 114 points to 22,775. The tech-heavy Nasdaq Composite Index rose 51 points to close at 6,585 and the S&P 500 inched up 14 points to finish at 2,552. 
 
Asian stock markets opened in the green on Friday following the positive leads from Wall Street. Japan’s Nikkei 225 has added 40 points and Hong Kong's Hang Seng has surged 186 points.  The Chinese market was closed for a public holiday.  

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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