Sensex, on Friday, rose by 290 points and closed at 19,270, driven by hopes of a diesel price hike and after the RBI raised their overseas borrowing limits. Among the stocks, ONGC , ICICI Bank and Bharti Airtel were the ones which advanced the most while among sector indices, capital goods, Oil & Gas and PSU ended on a positive note. Market breadth was positive with 1,322 advances against 986 declines.
Nifty was up by 87 points and closed at 5,680. Today, we expect the markets to open on a positive note on the back of firm global cues.
US markets ended on a positive note with Dow Jones and Nasdaq up by 0.9 percent and 1.3 percent respectively, as exports from China topped forecasts and corporate acquisitions fueled optimism in the world's largest economy. This week, US markets will witness data releases on unemployment claims, core retail sales, PPI, Retail Sales and Prelim UoM consumer sentiment.
Asian markets are trading positive with Nikkei and Hang Seng up by 1.0 percent and 0.7 percent respectively. SGX Nifty is trading up by 21 points at 5,784. Indian ADRs ended on a mixed note. Among financial ADRs, ICICI Bank was down by 0.3 percent while HDFC Bank was up by 1.5 percent. Among IT ADRs, Wipro and Infosys were up by 7.4 percent and 2.0 percent respectively. Tata Motors was up by 2.9 percent.
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