Markets open on robust note; Sensex up by 250 points, Nifty by 72 points

Sensex and Nifty opened strong on Friday after December's derivative expiry on Thursday. BSE Sensex climbed to Rs 36,060, up by 250 points or 0.70 per cent, while NSE Nifty50 started the day off higher too at Rs 10,850, up by 0.70 per cent or 72 points.

Strong global cues, hope for trade settlement between U.S and China, easing tensions between White house and Federal Reserve and positive opening of Asian markets caused Indian market to open higher.

However, there may be a major impact on markets because of the setback to the economy over the bad news on fiscal deficit between April to November. 

Kunal Saraogi CEO, Equity Rush told Zee Business Online that there is a strong support at Rs 10,650, and at Rs 27,100, for Bank Nifty. However, he added that today will be a volatile trading session with a smooth rally. 

"The range of 10,800 will be crucial for Nifty 50. The US market recovery sending strong signals, the markets will have a positive trend in a new year after January 7" Saraogi claimed.

RBI governor Shaktikanta Das on December 27 held meetings with top private sector lenders, to discuss liquidity issues and the flow of credit to small and medium businesses, according to bankers.

The new trade war issues with China witnessed small correction in the U.S markets on Thursday as a fear of a ban by Donald Trump on products of telecom companies like ZTE and Huawei. 

The Dow Jones Industrial Average jumped 260.37 points, or 1.14 percent, to 23,138.82, the S&P 500 gained 21.13 points, or 0.86 percent, to 2,488.83 and the Nasdaq Composite added 25.14 points, or 0.38 percent, to 6,579.49. However European markets closed with a 2.5 per cent dip as DAX closed on 10,381.51.

SGX Nifty of Singaporean Exchange crosses 10,860, surging 61 points or 0.56 per cent, likely to impact Indian markets today, a smooth rally expected.

The rupee witnessed a struggle, was down by 29 paise to 70.35 against US dollar on December 27, even as crude oil prices eased. 

Brent crude took a sharp dip of 4 per cent to $52 per barrel.

Read this Zee Business tweet 

Stocks to watch out for:

1. Agriculture stocks: Cabinet meeting held, decides immediate financial aid to farmers. Agro based financial schemes to be announced.

2. Banking stocks: Government prospects of liquidity infusion of 29000 crores in 7 PSBs.

3. Lemon Tree: A joint venture of Rs 3000 crore with Warbug Pincus for a rental housing project. Lemon tree to have 30 per cent stakes in JV.

4. HCC: Company collected Rs 498 crore via rights issue, promoter's stake increased to 33.12 per cent from 27.8 per cent.

5. Bosch\Siemens: 6 retailers denied purchasing some products due to online discount issues.

6. Central bank: Board meeting to be held to decide funds collection. 

7. PVR\Inox: Simba released in theaters, likely to impact cinema ticket sales.

Watch this Zee Business tweet video

There are number of positive verticals for the Indian markets to make all time highs in the new year. 

RBIs nod to infuse liquidity to banks, recapitalisation of PSBs, stability in rupee, FPIs decision to infuse Rs 4000 crores in capital markets, oversupply of crude, strong global sentiments can drive local markets to all time highs in the future.

Global markets was on track on Wednesday, after the positive news came from the U.S, as according to the economic adviser of Donald Trump, the job of Jerome Powell, chair of Federal Reserve and Steven Mnuchin, the treasury secretary, is 100 per cent safe.