Indian Markets
The key Indian stock indices have climbed in early morning trade with the BSE Sensex up well over 100 points and the NSE Nifty reclaiming the 4,750 mark. Market breadth is fairly positive as the broader indices have extended gains from the previous session. Most sectoral indices on the BSE are trading in the positive terrain.
US and European Markets
Stocks edged higher on Monday as investors continued to keep a close eye on events in Europe and geared up for the start of fourth-quarter corporate earnings announcements. Dow Jones rose 33 points, or 0.3%, to end at 12,393. S&P 500 added 3 points, or 0.2%, to 1,281. Nasdaq composite rose 2 points, or 0.2%, to 2,676.
European stock markets finished lower Monday, as German Chancellor Angela Merkel and French President Nicolas Sarkozy failed to inspire market participants with their latest meeting, while downbeat German data added to the weaker tone. Britain's FTSE 100 and DAX in Germany both lost 0.7% and France's CAC 40 eased 0.3%.
Asian Markets
Today the Asian indices are trading in the in the green with Kospi trading higher by 1.8% while Taiwan is up 1.1%. Shanghai is up by 0.8% while Strait Times is up 0.6%. Nikkei is up 0.5%. SGX Nifty is trading higher by 23 points.
Currencies
the Indian Rupee rose for the second day to close at nearly three-week high of 52.51/52 against the Dollar, up by 20 paise on sustained selling of the US currency by exporters.
Commodities
Among the metals, Copper fell by 0.4% while Aluminium gained the most (2%). Zinc and Nickel rose by 1.4% and 1.2% respectively. Oil for February delivery fell 25 cents to settle at $101.31 a barrel. Gold futures for February delivery declined $8.70 to $1,608.10 an ounce.
Outlook
Today, the Indian market is likely to open in the green on the back of global cues and positive European news. Among the sectoral indices, Auto, Banking and IT stocks could do well.
Sources- hdfc security, india infoline
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