Sensex, Nifty may open in green on firm global cues; Essar Oil, Titan in focus today

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New Delhi | Updated: Dec 07, 2015 8:35 AM

The BSE Sensex and NSE Nifty are likely to open in green on Monday tracking SGX Nifty and global markets.

Sensex, Nifty, Stock market outlookThe BSE Sensex and NSE Nifty are likely to open in green on Monday tracking SGX Nifty and global markets. (Reuters)

The BSE Sensex and NSE Nifty are likely to open in green on Monday tracking SGX Nifty and global markets.

At 8.16 am (IST), SGX Nifty was up 0.52 per cent, or 41 points, at 7,861.

Asian share markets bounced on Monday after Wall Street welcomed an upbeat US jobs report that suggested the world’s biggest economy was well placed to handle an expected first increase in interest rates in almost a decade. Nikkei, Hang Seng and Shanghai were up 1.51 per cent, 0.20 per cent and 0.25 per cent, respectively.

On Wall Street, the Dow rallied 2.12 per cent on Friday, while the S&P 500 gained 2.05 per cent and the Nasdaq 2.08 per cent.

Back home, Stocks trended down for the third day in a row on Friday as the BSE Sensex lost over 248 points to end at 25,638.11 — a two-week low — amid an intense global sell-off after the ECB stimulus fell short of the crease.

The broader NSE Nifty cracked below yet another crucial 7,800-mark by falling 82.25 points, or 1.05 per cent, to close at 7,781.90.

Shares of Essar Oil and Titan will remain in focus on Monday. Essar Oil Ltd, India’s second biggest non-state oil refiner, on Saturday issued a public notice to delist the company from local bourses by buying out the non-promoter shareholding of 28.54 per cent at Rs 146.05 per share.

Tata Sons, the promoter of major operating companies of the Tata group, will acquire additional 0.22 per cent stake in Titan Company at an estimated price of over Rs 66 crore, taking its total holding to 19.80 per cent.

(With inputs from agencies)

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