Indian equity markets posted their sixth straight weekly gains on Friday — the longest such winning streak since July this year. The S&P BSE Sensex and the NSE Nifty 50 had gained close to 2% each last week.
The prompted analysts to say that the 50-stock gauge needs to cross 13,600 for the next leg of upmove towards 13,750.
Futures are pointing towards a positive start to the new trading week. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.4% to 13,585 as of 7:40 a.m. on Monday.
Burger King India will debut on the bourses today after investors piled into its shares, making it the second-most successful IPO of the year. It was the third such issue of 2020 that saw an overall subscription of over 150 times.
Globally, Asian markets have begun on a positive note this morning as investors take comfort from further negotiations on the stimulus front and the impending arrival of a Covid-19 vaccine in the U.S.
Futures on the Dow Jones are trading with gains of 180 points. The index ended little changed on Friday.
West Texas Intermediate crude was little changed at $46.58 per barrel, while gold fell 0.2% to $1,836.6/Oz.
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