Market seen opening higher on firm global cues
The Indian equities is poised to open higher on Monday tracking a bullish trend in fellow Asian peers and a strong finish at Wall Street overnight as traders cheered a possible resolution for the Greek economic crisis. However, weak factory output data may weigh on market sentiment. May industrial output data slowed to 2.7 per cent year-on-year in May, compared with 4.1 per cent in April, amid weak growth in the manufacturing sector, data released by the Ministry of Statistics and Programme Implementation showed on Friday. On the global front, Asian stocks started week on positive note, barring Hong kong’s Hang Sang, as investors weighed negotiations between European leaders and Greece. China extended rally for the third day on trot as the country’s government managed to restore some confidence in the stock market after banning insiders from selling shares in listed companies while allowing banks to roll over loans backed by shares, spurring the biggest rebound in the Shanghai Composite since 2009. Japan’s Nikkei 225 advanced as a weaker yen bolstered the appeal of exporters.
On Friday, the Indian benchmark indices ended the Friday’s trading session with modest gains as high intraday volatility was witnessed throughout the day with the key indices alternately swinging between positive and negative zone.
On Friday, the Indian benchmark indices ended the Friday’s trading session with modest gains as high intraday volatility was witnessed throughout the day with the key indices alternately swinging between positive and negative zone.
