The domestic stock markets are likely to open in the green on the back of positive global cues. Trends on SGX Nifty indicate a gap-up opening for the Nifty, with a 100-point gain. At 7:30 am, the Nifty futures were trading at 15,848, higher by 100 points or 0.87 per cent, on the Singapore Stock Exchange.
Shares in Asia-Pacific were mixed in Monday morning trade as oil prices hovered about $76 ahead of another meeting between OPEC and its allies. Investors are also looking ahead to data releases in Australia and China.
In Japan, the Nikkei 225 slipped 0.5 per cent in early trade and Topix index shed 0.43 per cent. South Korea’s Kospi edged higher by 0.33 per cent.
Wall Street scaled new highs on Friday, with the S&P closing up for a seventh straight day, after jobs data for June showed robust hiring yet persistent weakness in the labor market that will keep the Federal Reserve from raising interest rates any time soon.
The Dow Jones rose 0.44 per cent, S&P 500 gained 0.75 per cent and Nasdaq Composite added 0.81 per cent. On the IPO front, India Pesticides will debut on the bourses today. on Friday, the BSE Sensex had gained 166.07 points and Nifty rose 42.20 points.