The Indian market is set for a positive start on Monday as hints of progress on the Sino-US trade standoff provided a rare glimmer of optimism.
The Wall Street Journal reported the White House was pressing China for more details on how it might boost US exports and loosen regulations that stifle US firms there.
At 07:15 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, was up 0.39 percent at 10,964, indicating a positive opening for the Indian market.
On the domestic front, the quarter 3 earnings result season will kick off this week.
Here's what you should know before the market opens: Asia: Asian stocks crept higher on Monday as hints of progress on the Sino-US trade standoff provided a rare glimmer of optimism in what has been a rough year-end for equities globally. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.2 percent, but was still down 16 percent for the year. E-Mini future for the S&P 500 firmed 0.68 percent. Japan's Nikkei was closed for a holiday having ended the year with a loss of 12 percent. Oil: Early Monday, the crude benchmark was up 30 cents at $53.51 a barrel but down 20 percent for the year. US crude futures nudged up 24 cents to $45.57. Market close: The Indian equity market ended on a positive note on Friday led by HDFC, HDFC Bank, ICICI Bank, Reliance Industries, but underperformance in TCS limited the gains. The Sensex jumped over 250 points to settle above 36,000 mark, while the Nifty gained nearly 0.75 percent to close above 10,850. Broader markets outperformed frontline indexes, rising more than 0.9 percent in trade. Rupee: The rupee closed at 69.94 against the US dollar on Friday. Indian economy: The country is expected to witness strong economic growth in 2019, after it has emerged as the fastest growing major world economy this year despite growing global vulnerabilities, industry body CII said on Sunday. The positive outlook is buttressed by strong drivers emanating from services sector and better demand conditions arising out of poll spend, with the general elections slated next year, according to the chamber. RBI data: Banks have seen a significant improvement in recovery of stressed assets helped by the Insolvency and Bankruptcy Code (IBC) and amendments in the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interests (SARFAESI) Act, during FY18, according to the RBI data. Cabinet meeting: The government on Friday said six public sector undertakings, including THDCIL, TCIL and RailTel, will come out with IPOs, while KIOCIL will issue follow on public offer (FPO). The Cabinet Committee on Economic Affairs has given approval to list seven CPSE on the stock exchange through initial public offer (IPO)/FPO, Law Minister Ravi Shankar Prasad said while briefing the media. NBFCs: In spite of the previlaing concerns around non-bank lenders due to defaults by industry major IL&FS, the Reserve Bank of India on Friday said it will ensure that growth in the shadow-banking sector is sustained and liquidity fears are eased. Gold: Gold was ending the year on a high note after rallying almost 5 percent in the past month to stand at $1,279.06 an ounce. Dollar: The dollar traded narrowly against its peers on Monday, as risk sentiment remained fragile over heightened concerns of slowing global growth and a partial US government shutdown. (With inputs from agencies)