Sensex, Nifty Poised For A Firm Opening
The domestic stock markets are likely to open in the green, going by positive cues from global markets. Dow Jones rose on Friday, Asian shares are enjoying a relief rally in early trades and trends on SGX Nifty indicate a positive opening for the Nifty in India, with a 48-point gain. At 7:30 am, the Nifty futures were trading at 15,776, higher by 48 points or 0.37 per cent on the Singapore Stock Exchange.
Asian shares were trading in the green on Monday as record highs on Wall Street and policy easing in China helped calm some of the recent jitters on global growth.
Japan’s Nikkei bounced 1.9 per cent, and away from a two-month trough touched on Friday, while South Korea added 0.6 per cent. Nasdaq futures rose 0.1 per cent and S&P 500 futures were a fraction firmer.
The three major US stock indexes rallied to record closing highs on Friday as financials and other economically focused sectors rebounded after a selloff sparked by growth worries earlier in the week.
The Dow Jones rose 1.3 per cent, the S&P 500 gained 1.12 per cent and Nasdaq Composite added 0.96 per cent.
On the earnings front, HFCL, HMT, Steel Strips Wheels, Amit Securities and Dr Lalchandani Labs will release their quarterly earnings on July 12.
On Friday, the BSE Sensex had cracked 182.75 points and Nifty had declined 38.10 points.