Market Likely To Open In Positive

Indian equities indices fell for a third straight week on Thursday and close below their long-term 200-day moving average lines on MAT worries, disappointing Q4 earning numbers and delay in land acquisition bill and concerns over weak monsoon forecast further dampened sentiment. The BSE and the NSE were closed on May 1, for observing "Maharashtra Day" holiday. The Sensex closed down 1.56% for the week and 3.4% in April, while the Nifty lost 1.5% in the week and 3.7% for the month. The BSE Mid-Cap index dropped 0.18% and the BSE Small-Cap index lost 0.58%. The decline in both these indcies was lower than Sensex's fall in percentage terms.

U.S. stocks ended the week on a high note, with the main indexes advancing more than 1% on Friday. But the main benchmarks still posted modest losses over the week. The S&P 500 closed 22.78 points, or 1.1%, higher at 2,108.29, but finished the week 0.4% lower. The Dow Jones Industrial Average jumped 183.54 points, or 1%, to 18,024.06, but posted a 0.3% loss over the week. The Nasdaq Composite gained 63.97 points, or 1.3%, to 5,005.39, but ended the week with a 1.7% loss, mostly due to a large selloff in biotechnology industry.

Britain's stock market edged up Friday in subdued deals ahead of a general election next week, with the majority of European markets and many international markets closed for the Labor Day holiday. The benchmark FTSE 100 index closed around 0.4% higher.

Asian share markets stumbled on Monday after disappointing news on Chinese manufacturing underlined the need for further policy stimulus in the world's second biggest economy. China HSBC PMI fell to 48.9 in April which is the lowest level since April 2014 from 49.6 in March, as demand faltered and deflationary pressures persisted. Hong Kong's Hang Seng index reverse early gains and trading at flat. While the Shanghai Composite down 0.48% at 4,420.54 points. South Korea’s Kospi index rose 0.3%. Australia’s S&P/ASX 200 Index lost 0.1% and New Zealand’s NZX 50 Index dropped 0.3%. Markets in Japan, Thailand and Malaysia are shut for holidays on Monday. They will reopen on Thursday.

SGX Nifty is trading up by 45 points. Indian market is likely to open in positive. Can Fin Homes, Mangalam Cement, Sks Microfinance, V-Guard Industries And V-Mart Retail would be reporting fourth quarter earnings today.