Nifty indicated that India’s benchmark indices NSE Nifty 50 and BSE Sensex will start higher on Monday. Nifty futures traded 165 points or 0.93% higher at 18000 on the Singapore Exchange, signaling a positive start for domestic stocks. “Markets are gradually rising, however a mixed trend across index heavyweights is keeping momentum under control. We expect Nifty to maintain positive tone till holding 17,400 and inch gradually towards 18,100+ zone. We think banking can take a breather around its record high and other sectors will fill in on a cyclical basis. .Traders should pursue a “buy on tips” approach with a focus on overnight risk management,” said Ajit Mishra, VP – Research, Relicare Broking.
Important things to know before share market opening bell
GLOBAL MARKET WATCH: Shares in the Asia-Pacific region rose on Monday ahead of the release of China’s factory activity data, and markets looked ahead to the US Federal Reserve meeting later this week. Japan’s Nikkei 225 rose 1.32%, while South Korea’s Kospi rose 0.59%. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3%. Meanwhile, all major US indices ended Friday’s session up around 2.5% or more. The Dow Jones Industrial Average rose 2.59%, the S&P 500 gained 2.46%, and the Nasdaq Composite added 2.87%.