The benchmark BSE Sensex, NSE Nifty are likely to open in green on Friday, thereby continuing Thursday’s winning streak despite mixed global trends today. Though traders are expected to be cautious as China market continues to slide.
On Thursday, the benchmark BSE Sensex rose by 142 points to close at 27,705.35 on sustained buying by investors after the Cabinet approved amendments to the GST bill. Sentiments were boosted after Cabinet on Wednesday approved amendments to the GST bill raising hopes of passage by Parliament, equity brokers said.
Besides encouraging Q1 earnings by some blue-chip firms, positive global cues following key US Fed statement on optimism over economy too influenced sentiments.
Globally, Investors kept a wary eye on China, where stocks dropped on Thursday after state media reported that banks were investigating their equities exposure in the wake of the recent dramatic rout there.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up about 0.1 percent in early trading, but set for a weekly loss of more than 1 percent.
Japan’s Nikkei stock index was down about 0.2 percent, poised to log a 0.3 percent loss for the week.
On Wall Street, US shares put in a mixed performance, as downbeat earnings offset solid economic data.
Crude oil was under pressure after dropping overnight in line with a stronger dollar, which makes dollar-denominated commodities less appealing to investors holding other currencies. US crude was slightly down at $48.49 a barrel.
The stronger greenback also pushed down gold, which plunged 1 percent with a 5-1/2-year low in sight. Spot gold was last steady on the day at $1,088.21 per ounce.
(With inputs from Agencies)