Indian markets are likely to open positive tracking global indices and SGX Nifty.
US stocks have moved mostly higher on the first trading day of the New Year adding to the strong gains posted in 2017. The major averages have all moved to the upside with the techheavy Nasdaq showing a particularly strong upward move. The Dow Jones is up 0.4% to close at 24824and the Nasdaq Composite or 1.5% to 7007.
U.K. shares fell on profit despite positive manufacturing data from China and ebbing tensions on the Korean Peninsula. The FTSE 100 is down by 0.5% to close at 7648.
On domestic front Indian shares may open slightly higher as the dollar remains in the doldrums. Positive global cues may also offer a helping hand while higher levels may trigger some profit taking ahead of corporate results and amid soaring global crude prices. The Sensex ended on a flat note at 33812.The Nifty ended at 10442 having a slightly upside of 0.1%.
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