Sensex, Nifty likely to open in green tracking global markets, Axis Bank in focus

The BSE Sensex and NSE Nifty are likely to open in green on Monday tracking SGX Nifty and global markets.

At 8.30 am (IST), SGX Nifty was up 26 points, or 0.33 per cent, at 7,877.

Asian shares got off to a slow start on Monday as a holiday in Japan sapped liquidity, while the prospect of more policy easing in Europe kept the euro on the defensive to the benefit of the US dollar.

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Shanghai was up 0.37 per cent at 3,643.99 while Hang Seng was marginally down 0.04 per cent at 22,746.42.

The Dow had ended Friday up 0.51 per cent, while the S&P 500 added 0.38 per cent and the Nasdaq 0.62 per cent.

The S&P 500 boasted its best week in almost a year, while Europe’s main stock index enjoyed its strongest week in a month.

Back home, the 30-share Sensex on Friday was in the grip of profit booking initially, but recovered on the back of across-the-board buying in blue-chips and closed higher by 26.57 points, or 0.10 per cent, at 25,868.49. The broader Nifty on Friday ended at 7,856.55, up 13.80 points, or 0.18 per cent, after trading between 7,817.80 and 7,906.95 intra-day.

Stocks of Axis Bank will be in focus as it has opened a representative office in Dhaka as part of its overseas expansion plan.