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Global cues positive; Nifty likely to open in green

Global markets are mixed with the US stocks ending near unchanged on Wednesday, with the Dow furthering its record climb, a day after its first trip above 18,000. The jobless claims fell by 9,000 to 280,000 last week.

The News International Team

The Indian equity market is likely to open on a marginal positive note today with the SGX Nifty trading at 8298, up 8.50 points at 7:20 am.

Expiry day jitters dampened the sentiment on Dalal Street with the Nifty dropping below 8,200 and Sensex losing about 300 points on Wednesday.

Global markets, meanwhile, are mixed with the US stocks ending near unchanged on Wednesday, with the Dow furthering its record climb, a day after its first trip above 18,000.  The jobless claims fell by 9,000 to 280,000 last week.

European shares also finished mixed on Wednesday with reports of an acquisition in the pharma sector leading the market.

In Asian markets, Japanese shares kick off trade on a weak note following the release of a mixed bag of economic data. The yen slips against the dollar to trade at 120.34.

In other asset classes, the dollar edged up against the yen on light bargain hunting following two sessions of losses, with markets slowly getting into gear after the Christmas holiday.

In commodities, crude prices slip with Brent at USD 60 per barrel as crude inventories unexpectedly surged last week as imports jumped and refineries maintained output.

Back home, major public sector bank reforms may be on the anvil. The Prime Minister and the Finance Minister call for a two-day Gyan Sangam with PSU bankers starting January 2 to hammer out a reforms blueprint .In attendance will also be Governor Raghuram Rajan and key finance ministry officials.

The government celebrates good governance day yesterday on the occasion of former Prime Minister Atal Bihari Vajpayee’s birthday. Prime minister Modi paid the former prime minister a visit at his residence. He also wielded the broom for Swachch Bharat in Varanasi later.

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