Sensex, Nifty Likely to Open on a Positive Note

Sensex, Nifty Likely to Open on a Positive Note
The Sensex and Nifty are likely to open on a positive note in trades on Friday tracking positive trading of Nifty futures on the Singapore Stock Exchange amid firm global cues.

The Nifty futures traded on Singapore Exchange also known as the SGX Nifty was up 0.48 per cent or 36 points at 7,476.

Meanwhile, Asian shares look set to post a third straight weeks of gains on Friday as investors scaled back cautious bets on the global economy after a string of positive US economic data and a recovery in oil and commodity prices.

The rebound in risk asset prices could continue if the upcoming US employment report points to solid job gains, but not strong enough to encourage rate rises in the near term.

Overnight, Wall Street moved higher on Thursday, adding momentum to a recent recovery as the energy and financial sectors emerged into positive territory for the year.

The S&P 500’s increase was the most recent in four weeks of mostly steady gains that have left the index down 2.5 per cent in 2016 after the worst January since 2009.

The Dow Jones industrial average ended 0.26 per cent higher at 16,943.90 points and the S&P 500 gained 0.35 per cent to 1,993.39.

The Nasdaq Composite added 0.09 per cent to 4,707.42.

Back home, foreign institutional investors bought shares worth Rs. 912 crore while the domestic institutional investors sold shares worth Rs. 464.75 crore on Thursday.

[“source-ndtv”]