The Nifty is likely to marginally open in the green with indicator SGX Nifty at 7684.50, up 43 points at 7:48 am.
In the US, stocks closed higher for a second straight session in light volume trading as investors looked for signs of easing in geopolitical tensions. Moreover, the bulls are back across Europe as shares ended the day with gains of over 1 percent. The German DAX ended with nearly 2 percent gains.
In the currency space, the dollar started trade in Asia, holding flat after a listless session overnight, void of any meaningful economic data or market-moving events.
In commodities, crude prices slipped but the fall was capped by expectations of further draws in US crude inventory.
Back home, it was a good start to the week on Dalal Street yesterday after last week's sell off. Market rallied on positive global cues as Nifty found support at the 7600 mark and managed to close above it despite a dip in the second half of the session.
In key macro data, to watch IIP and CPI will be released today. IIP for June is expected to show a strong growth of 5.84 percent as against 4.7 percent in May . The improvement will be lead by electricity, mining and manufacturing. In the meantime, analysts expect a slight uptick in July CPI, seen at 7.6 percent.
In the US, stocks closed higher for a second straight session in light volume trading as investors looked for signs of easing in geopolitical tensions. Moreover, the bulls are back across Europe as shares ended the day with gains of over 1 percent. The German DAX ended with nearly 2 percent gains.
In the currency space, the dollar started trade in Asia, holding flat after a listless session overnight, void of any meaningful economic data or market-moving events.
In commodities, crude prices slipped but the fall was capped by expectations of further draws in US crude inventory.
Back home, it was a good start to the week on Dalal Street yesterday after last week's sell off. Market rallied on positive global cues as Nifty found support at the 7600 mark and managed to close above it despite a dip in the second half of the session.
In key macro data, to watch IIP and CPI will be released today. IIP for June is expected to show a strong growth of 5.84 percent as against 4.7 percent in May . The improvement will be lead by electricity, mining and manufacturing. In the meantime, analysts expect a slight uptick in July CPI, seen at 7.6 percent.
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