Subdued opening likely amid mixed cues from Asian peers

The markets saw a fantastic finish to the week as key benchmark indices ended the session at record closing highs. The opening to the fresh week might be a muted one as cues from Asian peers are lacklustre. On the domestic front, with election euphoria gone and the shorts mostly covered, now the focus would be back to the earnings season as over 200 firms are expected to announce their numbers today. Going ahead, the Nifty needs to sustain above 11,880 for another confident upmove. At the time of writing, SGX Nifty is trading at 11,852 level, down by 25 points. Adani Port, BHEL, Colgate Palmolive, GAIL, INDIGO, KSCL, OIL and ZEEL are some of the key results to remain in focus today.

Asian stocks are trading mixed on Monday morning. The Japanese stock index Nikkei 225 has gained 0.34 per cent and South Korea's KOSPI has added 0.16 per cent. Australia’s ASX 200 is trading flat with a negative bias.  

Back home, Friday’s session turned out to be a fabulous one for the key benchmark indices as indices settled at lifetime closing highs. Markets started the session on a positive note and, thereafter, volatility was observed in the initial part of the session. However, buying in the index majors gradually pushed the benchmarks higher. The broader indices outperformed the frontline gauges, with Nifty Midcap and Smallcap surging 2.20 per cent and 2.67 per cent, respectively. All sectoral indices ended in the green, with Nifty PSU Bank and Nifty Realty ending as top gainers.

The US stocks eked out modest gains in the final trading session of the week. In the economic news, durable goods orders tumbled by 2.1 per cent in April. The Dow Jones Industrial Average advanced 0.40 per cent, S&P 500 index added 0.1 per cent and the Nasdaq Composite gained 0.1 per cent.

The European stocks rallied on Friday. Market participants are monitoring the Brexit developments closely, with Prime Minister Theresa May announcing that she will resign on June 7. Germany’s benchmark DAX gained 0.49 per cent, UK’s FTSE rose 0.65 per cent and France’s CAC 40 index jumped 0.67 per cent.