Will global cues push Nifty in green terrain today?

The BSE Sensex closed at 19484.77 on Friday, down 95.55 points. The Nifty too, hovered around 5900 levels. In the European market, rebounding banks helped European shares recover after data pointing to a potentially stronger recovery in global growth helped drive demand for equities. We need to see if global cues will push Nifty higher today or not?

MCX-SX (India's New Stock Exchange) - the third exchange after BSE and NSE - is set to commence live trading in the capital market's cash and futures & options (F&O) segments with effect from today.

Cash segment

Initially all the securities available for trading will be in 'permitted to trade category'.

Trading hours will be similar to BSE and NSE - i.e. 9 am to 3:30 pm, wherein first 15 minutes will be for pre-open session and then the normal market session will start till 3:30 pm.

The IPO issue of Sai Silk IPO opens today.

Today, later in the day, some results of companies like ONGC, JP Associates, Britannia Inds, Punj Llyod, Tata Power, Voltas, Welspun Projects and Hexaware are expected today.

US markets

The US, stocks finished modestly higher in light-volume trading, with the Nasdaq closing at its best level since November 2000, stocks received some support from economic data, reports, such as the US. Trade deficit and China trade numbers, are still supportive of continued slow economic growth, but gains were limited as investors hesitated to jump in amid a lack of strong catalysts to further fuel the recent rally.

The Dow failed to finish above the 14,000 level and also closed lower for the week, snapping five-weeks of consecutive gains. For the week, the Dow slipped 0.12 percent, the S&P 500 edged up 0.31 percent, and the Nasdaq advanced 0.46 percent.

Currency

Euro is lower at 1.33 mark vs the dollar. The dollar index meanwhile holds steady above 80.

Brent crude rises

Brent crude rises to a nine-month high close to USD 119 a barrel after the release of strong Chinese economic and oil import data. NYMEX crude just below the 96 dollar levels

Metals

Gold slips in league with euro & weal outlook.