Indian shares are likely to witness a bullish opening as the global markets are supportive with SGX Nifty trading 40 points higher @9673.Indian equities are likely to open higher on Friday, tracking bullish cues from Nifty futures on the Singapore Stock Exchange and mixed trading across Asian markets and positive closing of Wall Street in overnight trade.
Bullish trend in the SGX Nifty Index Futures for June delivery, which were trading 9,675.50, up by 42.50 points or 0.44 per cent, at 10:50 AM Singapore time, also signaled a positive opening for local bourses.
The Indian equities ended flat with negative bias as investors sentiment were dented after data late on Wednesday showed that India’s gross domestic product (GDP) contracted to 6.1 per cent in fourth quarter from a year earlier, well short of market expectations of 7.1 per cent.
The 30-share barometer index of Bombay Stock Exchange, Sensex closed trade at 31137.59, down by 8.21 points or by 0.03 per cent, and the NSE Nifty ended at 9616.1, down by 5.15 points or by 0.05 per cent.
Asian stocks edged up on Friday and the dollar bounced from recent lows as upbeat data on U.S. manufacturing and employment and buoyant European factory growth boosted investor optimism.
US stocks ended higher on Thursday amid strong employment data which boosted the case for interest rate hikes this year. Back home, expectations of good monsoon rains this year and a favorable macroeconomic environment may further boost market sentiment.
U.S. factory activity ticked up in May after slowing for two straight months and private employers stepped up hiring, suggesting the economy is regaining speed after struggling at the start of the year
Major Headlines of the day:
TVS Motor sales up 16% in May.
Hero MotoCorp May sales up 9% at 0.6 million units.
Airtel gets Sebi and stock exchanges' nod for merger with Telenor
Trend in FII flows: The FIIs were net buyers of Rs -517.31 the cash segment on Friday while the DIIs were net sellers of Rs -171.65 as per the provisional figures.
Securities in Ban For Trade Date 02-JUN-2017: