Indian markets are likely to open positive tracking global indices and SGX Nifty.
The US markets closed with strong gains for the days as the impact of Hurricane Irma was not as severe as many had anticipated. After a subdued starting trading activity picked up and financials stocks witnessed strong buying. Further the fear over North Korea issues has gradually subsided and that has come as a big relief for major market participants.
The European markets also witnessed relief rally at the start of the new week. Strong opening in the US markets reducing geopolitical issues had a similar impact on the European markets.
The Indian markets continued with their upward move and had a strong move on the first day of the week. The GST council increased the cess on the auto industry marginally and easing geopolitical tension helped market participants taking a positive call on the markets. Favorable direction from the global markets also helped a positive move in the domestic market.Download Full Report