The negativity of the last six trading sessions may be arrested as global markets seem to have regained some health. A jump in the health-care sector on account of soaring bio-tech stocks boosted US markets. Energy shares too saw gains after oil prices firmed up on Monday. Back home, the beleaguered banking sector received a shot in the arm after outlook was upgraded to stable from negative by Moody's Investors Service citing gradual improvement in operating environment for Indian banks. On the macro front, Infrastructure output grew at its fastest pace in four months to 3.2% yoy in September on account of higher production of electricity and fertilizers. Manufacturing sector growth fell to a 22-month low in October due to a slower increase in new orders, but firms hired additional workers, according to Nikkei survey.
The outlook is a positive start. Indices could swing later in the day. Global markets are providing the much needed push to help indices spurt at start. Sectors which were at the receiving end on Monday may see some buying today. These include capital goods, metals, healthcare and power stocks. The Dow is up for the year after it added close to a percent on Monday. S&P 500 gained 1.19% and managed a close above 2100. Nasdaq was among the biggest gainers adding 1.45%. Asian markets too are trading well in the green.
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