India : Markets may open flat to negative; global cues may inject some vigour

The Indian Stock Markets on December 5 started the fresh week on a sluggish note but managed to post decent gains by the end of the day as the benchmark clawed back into the positive territory in the last leg of trade on getting some supportive leads from the European markets. On the sectoral space, Auto stocks remained the top gainers in the space followed by Metal and Banking stocks. On the flipside, IT stocks languished at the bottom of the table. Finally, the NSE’s 50-share broadly followed index Nifty rose 41.95 points to 8128.75, while Sensex gained around 118.44 points to end the session at 26349.10. European bourses recovered to close higher on Monday following early losses after Italian Prime Minister, Matteo Renzi lost a referendum to reform the country’s constitution. The French CAC 40 ended with gains of 1.00 per cent at 4,574.32 while the German DAX was up by 1.63 per cent to 10,684.82 and FTSE 100 was up by 0.24 per cent to 6,746.83.U.S stocks rose on Monday, with the Dow Jones industrials setting record highs, as services sector data gave further evidence of strength in the economy. The Dow Jones industrial average rose 45.82 points, or 0.24 per cent to 19,216.24, the S&P 500 gained 12.76 points, or 0.58 per cent to 2,204.71 and the Nasdaq Composite added 53.24 points, or 1.01 per cent to 5,308.89.Asian stocks opened higher owing to a strong Wall Street with markets discounting the potential impact of Italy’s referendum vote, while US Treasury yields firmed as robust economic data pointed to an interest rate hike next week. In Hong Kong, the Hang Seng index is trading higher by 0.66 per cent, while Nikkei 225 and Shanghai Composite are trading higher by 0.40 per cent and 0.29 per cent respectively.At 7:55 am, SGX Nifty is trading 14 points lower at 8156.50, indicating a subdued start for the domestic market.