According to Ventura Securities, markets to open in green due to positive sentiment in markets brought by change in government as well as global markets doing well.
Sensex, on Monday, closed on a fresh high at 24,363 up 241 points, as investors continued to switch to stocks with a domestic focus on hopes that the new government to be led by Narendra Modi would spur major economic reforms. Among sectors, Power, PSU, Capital Goods, Realty, Metals and Oil & Gas ended on a positive note.
Among stocks BHEL , Coal India , NTPC , ONGC and Tata Power advanced the most. Market breadth was positive with 2,135 advances against 715 declines.
Nifty was up by 60 points and closed at 7,263. Today we expect the markets to open in green due to positive sentiment in markets brought by change in government as well as global markets doing well.
US markets ended on a positive note with Dow Jones up by 0.1 percent and Nasdaq up by 0.9 percent as markets rose on Internet and healthcare stocks doing well and declining yields on government debt providing boost to US equities. FOMC members Plosser and Dudley are scheduled to speak today on the outlook for US economy.
Asian markets are trading positive with Nikkei up by 0.6 percent and Hang Seng up by 0.9 percent. SGX Nifty is trading up by 35 points at 7,304. Indian ADRs ended the day on a mixed note. Among financial ADRs, ICICI Bank was almost flat while HDFC Bank was up by 1.8 percent. Among IT ADRs, Wipro and Infosys were down by 2.2 percent and 2 percent respectively. Tata Motors was up by 0.6 percent.
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