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Last Updated : Sep 03, 2015 09:16 AM IST | Source: CNBC-TV18

Nifty to open in green on positive global cues

Global markets are likely to give some strength to Nifty today as the US market rallied over 1 percent to end near session highs. Nasdaq outperformed, pulling out of correction territory.


The Nifty is expected to open in the green today with the SGX Nifty, an indicator of the market opening, trading at 7761.50, up 21.50 points at 7:30.


The markets ended at their lowest level in over a year on Wednesday as bears launched a late attack. The Nifty tested 7,700 and the Sensex shed nearly 250 points.


Global markets are likely to give some strength to Nifty today as the US market rallied over 1 percent to end near session highs. Nasdaq outperformed, pulling out of correction territory.

Close

Asian markets too are positive on a strong positive US handover. The Nikkei was up almost 1.5 percent in early trade but still down 4 percent for the week.


And in Europe, markets finished higher reversing earlier losses as Wall Street shares bounced on the back of a European Central Bank (ECB) decision due today.


While no major policy changes are expected to be announced by the central bank's president Mario Draghi, but he may stress that extra support in the future is possible.


In other asset classes, the dollar gained as global stock markets steadied and US hiring data encouraged speculation that the Federal Reserve policymakers will raise interest rates later this month.


Nymex crude prices rose over 2 percent overnight to USD 46 per barrel, recovering some earlier losses as refined products' data supported prices. Brent is currently trading above the USD 50 mark.


And precious metal gold continued to trade around USD 1130 per barrel.


Back home, in a bid to revive ultra mega power plant (UMPP) the committee headed by former CVC Pratyush Sinha proposes to remove hurdles on ownership, financing and payments, but analysts says the proposals are not completely on the line of the "plug & play" model.



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First Published on Sep 3, 2015 07:42 am
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