The Indian stock market on Monday will be driven by favourable global cues and domestic economic data such as the HSBC India Manufacturing PMI and HSBC India Services PMI, as per the market analysts.
Indian markets opened with gains on Friday following the rally in global stock markets. Both benchmark indices, Nifty 50 and Sensex, gained at the opening.
Indian stock markets on Wednesday opened marginally up following global cues and a rally in US stock markets. According to the experts, the Indian markets are in balanced mode amid the FIIs selling and DIIs buying.
The stock market in the upcoming week will be looking at global happenings such as international market performance, anticipations of recession in the US, and domestic macroeconomic indicators such as IIP, CPI, and WPI inflation data, said market analysts.
As per the market analysts, the declining global sentiment after the disappointment that arose after the earnings disclosure of Alphabet and Tesl have greatly impacted the market globally.
The Indian market opened Thursday's trading session with a marginal decline amid weak global cues. The Nifty 50 index dropped by 85 points, or 0.37 per cent, to 24,526, while the BSE Sensex fell by 304 points to 80,406 during early trade.
The Indian stock market opened with minor gains, tracking positive global cues on Tuesday. The BSE Sensex opened in green at 80730.50, up 65.66 or 0.08 per cent while Nifty opened with a gain of 29.20 or 0.12 per cent up at 24615.90.
As the week gone by saw Indian stock markets touching fresh all-time highs and at the same time volatile trading days, the market is likely to see stock specific moves gain traction on the back of ongoing earning season, as per the market analysts.
The NSE Nifty 50 index opened at 24,379 points with a gain of 64 points, while the BSE Sensex also surged 193 points to 80,093 during the opening trade.
Bank Nifty opened in green territory with an increase of 704 points or 1.35 per cent at 52 872.30 whereas the Nifty Midcap opened at 56149.90, an up of 295.20 or 0.53 per cent increase.