Market Likely To Open In Green Tracking Global Cues

Indian equities market ended lower to snap six-day winning streak on Thursday, tracking weak global cues  as investors waited minutes of the US Federal Reserve's FOMC meeting, which could provide insights on the timeline for the impeding rate hike by the US Federal Reserve. The Sensex was down 190.04 points or 0.7% at 26845.81. The Nifty slipped 48.05 points or 0.6% at 8129.35. The BSE Sensex and NSE Nifty gained 1,419 points and 381.70 points in the past six trading sessions till October 7. The BSE Mid-Cap and Small-Cap index fell 1.01% and 0.15% respectively.

U.S. stocks market rally on Thursday as investors focused on the Federal Reserve's continued worries about low inflation after the release of minutes from the Fed's latest policy meeting. The Dow Jones industrial average gained 0.8% to finish back above 17,000 at 17,050.75. The S&P 500 index finished up 0.9% and broke above the key 2000 mark. The Nasdaq composite index — negative for all of the morning and gradually climbing after the Fed news — ended 0.4% higher.

Reviewing the Fed minutes, in which the central bank said it was still worried about low inflation readings, stocks rallied as the odds for an interest rate hike this year shrank some more. The Fed decision to hold off on rate hikes last month was not as close of a call as originally feared, another sign that hikes might not come until next year.

European markets were mixed as Germany's DAX index rose 0.2% and France's CAC 40 was up 0.2%. London's FTSE 100 index gained 0.6%.

Asian shares rose on Friday, following a positive lead from Wall Street after minutes from the Federal Reserve’s latest meeting indicated the central bank won’t rush to raise interest rates. Japan’s NIKKEI 225 index added 0.78%. New Zealand’s S&P/NZX 50 Index rose 0.45%, and Australia’s S&P/ASX 200 Index advanced 0.84%. Markets in South Korea and Taiwan are closed for holidays Friday. Chinese stocks continue to be in focus, after the Shanghai Composite surged 3% on Thursday in a catch-up rally post a week-long holiday and the index rising 0.3% in early trade.

A SGX CNX Nifty Index future for October delivery was up 58 points at 8,226. Indian market is likely to open in green due to positive global cues.