Markets may open on a positive note following upbeat global cues

The market is all set to witness a jubilant start on Friday with positive global cues and falling oil prices likely to support the upbeat sentiment. A positive trend in the SGX Nifty index Future, which was trading at 10,482, higher by 67 points, also indicated positive opening. Among the results of Nifty 50 companies to watch include Axis Bank, Hindalco, Indian Oil Corporation and NTPC.  
  
Asian bourses were firmly higher following strong cues from the Wall Street overnight after President Donald Trump said he had a very good conversation with Chinese President Xi Jinping on trade. Hong Kong’s Hang Seng has jumped 2.40 per cent, China’s Shanghai Composite index has soared 1.24 per cent and the Japanese Nikkei 225 has surged 1.20 per cent.  
  
Back home, Thursday turned out to be a day of tug-of-war between the bulls and bears as the key benchmark indices headed nowhere and oscillated in a capped range coming in and out of the negative territory. At the end of the day, Nifty settled at 10,380, down by 6 points, and BSE Sensex dipped 10 points to finish at 34,432. The broader market indices outperformed the frontline indices with Nifty Mid-cap and Small-cap gaining 0.87 and 1.65 per cent, respectively. Mixed trend was witnessed on the sectoral front, where Nifty Realty and Nifty Metal topped the gainers list and Nifty IT and Nifty Pharma lost the most.  
  
The US markets kicked off the month of November firmly in positive territory as indices extended the rally to a third straight day. The strength on Wall Street came after President Donald Trump in a tweet said he had a “long and very good conversation” with the Chinese leader with a heavy emphasis on trade and he added that those discussions are moving along nicely with meeting being scheduled at the G-20 meet in Argentina. The Dow Jones Industrial Average surged 1.1 per cent; the S&P 500 gained 1.1 per cent and the tech-heavy Nasdaq jumped about 1.8 per cent.  
  
The European indices ended the first trading session of the new month with mixed results as market participants digested some diverging earnings reports, while the pound sterling was solidly higher against its key peers on a combination of progress regarding Brexit negotiations and a hawkish message on the future of UK interest rates by the Bank of England. The DAX of Germany added 0.2 per cent, while the CAC of France and the UK’s FTSE 100 dipped by 0.2 per cent.