Market Likely To Open In Green On Positive Global Cues

Nifty closed flat with a gain of 12.95 points after a day the RBI kept the key interest rates unchanged in its fifth bi-monthly monetary policy review held here. Sensex edged down to close at 28,442.71 in lackluster trade while smallcap and midcap indices gained over one per cent each as retail investors bought shares with good volumes. Sectorwise, the BSE Auto index gained the most by rising 1.34%, followed by Realty index 1.32%, Power index 1.06% and Oil & Gas index 0.99%, among others. However, IT index ended in negative zone with a fall of 0.19% and Teck index shed 0.16%.

Globally, The U.S. stock market closed at record levels on yesterday along with encouraging economic and boosted by the Federal Reserve’s Beige Book, which showed the U.S. economy is continuing to expand at a “modest-to-moderate” pace. The S&P 500 index rose 7.78 points (0.4%) to 2,074.33. The Dow Jones industrial average rose 33.07 points (0.2%) to 17,912.62. The Nasdaq composite climbed 18.66 points (0.4%) to 4,774.47.

Payroll processer ADP said that U.S. companies added 208,000 jobs in November, the third straight month that hiring has topped 200,000. A separate report showed that service sector activity climbed close to an eight-month high in November. The reports were an encouraging sign before the government's monthly jobs survey is published on Friday.

European stock markets rose for a second straight day on yesterday, with investors hold equities on hopes the European Central Bank will enact more easing measures on today. The Stoxx Europe 600 Index increased 0.57% to 349.34, Germany’s DAX 30 index rose 0.38% to 9,971.79 and France’s CAC 40 index ended up 0.1% at 4,391.45.

Asian market opens in green as fresh signs of resilience in the U.S. economy offset some of the gloom over a weakening global outlook. Japanese stocks rose for a fifth day, with the Topix index heading for a seven-year and the yen touched it’s weakest since 2007. The polls suggested that Prime Minister Shinzo Abe was headed for an election victory. Hong Kong's Hang Seng and China's Shanghai index both are trading in positive by 0.67% and 0.86% respectively. The SGX Nifty is open in green and currently trading at 4 point above at 8,581. Indian market is expected to open above on back of positives global cues.