Positive opening on Dalal Street
Indian markets likely to open up tracking positive cues from other Asian and US markets. SGX Nifty is trading 43.00 points up.
According to IMD, monsoon rainfall has shown a rise of 1% for the period between June 1 and July 6. A favourable monsoon is seen pushing up rural demand and ease food inflation. India's NSE index retreated from a 10-month high on Tuesday and snapped six sessions of gains, as investors paused ahead of major central banks announcements this week, including the minutes of the US. Federal Reserve meeting in June. The S&P BSE Sensex and CNX Nifty fell 0.41%-0.42% each.
On Tuesday (July 05, 2016), the 30-share Sensex plunged by 111.89 points or by 0.41% at 27,166.87 while the NSE Nifty ended at 8,335.95, down by 34.75 points or by 0.42%.
Asian share markets crept higher on Thursday after upbeat U.S. economic data took some of the sting out of the latest Brexit scare, while the Australian dollar slipped as the country's triple A credit rating came under threat.
European stocks fell on Wednesday, led lower by major banks and other financial stocks as worries persist about the impact of Britain's vote to leave the European Union.
U.S. stocks shook off worries tied to the U.K.’s vote late last month to exit the European Union, dubbed Brexit, and closed higher Wednesday.
Trend in FII flows: The FIIs were net buyers of Rs 265.63 Cr in the cash segment on Tuesday while the DIIs were net sellers of Rs -447.48 Cr, as per the provisional figures.