Indian markets likely to open flat with positive bias, global cues firm

Indian stock markets today are expected to witness a flat opening as signalled by the SGX Nifty.

Indian stock markets today are expected to witness a flat opening as signalled by the SGX Nifty. US markets on Friday ended with minor gains, with the Nasdaq and S&P 500 ending higher by 0.7% and 0.3%, respectively. The Dow Jones ended flat with a gain of 2 points.

The Sensex in a holiday-truncated week on Thursday ended the session higher by 143 points at 59,832, while the Nifty-50 ended higher by 42 points at 17,599. Nifty Bank added 42 points to end at 41,041 on Thursday. “Rate pause and encouraging domestic economic data continues to provide positive undertone to the market. However, given the backdrop of global uncertainties and fear of US recession, we might see range bound movement in the near term,” said Siddhartha Khemka of Motilal Oswal Financial Services. 
Foreign Institutional Investors continued their buying spree of Indian equities for the sixth straight session on Thursday. FIIs were net buyers to the tune of Rs 475 crore in the cash markets on Thursday, provisional data from exchanges showed. Flows from DIIs however continued to remain negative as they sold shares worth Rs 997 crore in the cash markets on Thursday, provisional data from exchanges showed.
Top stocks to watch today are Titan, Tata Motors, Sobha, IGL, MGL, Guj Gas, besides others.

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