Nifty Likely to Open in Green on Monday; An Advice for Investors

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Nifty Likely to Open in Green on Monday; An Advice for Investors
Credit: © Reuters.

By Malvika Gurung -- After a long long weekend, the Indian equity benchmarks BSE Sensex 30 and Nifty50 are likely to start today’s session on a positive note, as the Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator of how the market would perform today, was last found trading 0.45% higher at 17,992.80.

The Muhurat 2021 trading session on November 4 saw Sensex surge almost 300 points to close at 60067.62 points, while Nifty surged 91.80 points and ended the session at 17921.

Analysts believe that given the release of the final batch of Q2 earnings, stock-specific movements would likely continue in the market.

However, Angel One advises investors to not indulge in aggressive bets for a long term period, as long as the index stays below the 18,000-18,100 band on a closing basis. 

Asian shares fell marginally during the early session on Monday, as a cautionary action before reading on US inflation, which could hike the rates. 

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.29%, while Japan’s Nikkei slid marginally by 0.07% at 8:40 am on Monday.

Wall Street ended higher on Friday and booked major gains, backed by data showing strong jobs growth in October in the US, along with positive data for Pfizer (NYSE: PFE )'s experimental pill against COVID-19.

The three main US indices, Dow Jones , S&P 500 , and Nasdaq Composite ended at record highs, gaining 0.56%, 0.37%, and 0.20% on Friday, respectively.

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