Here’s what you need to know before the market opens on October 08, 2021.

Bulls are likely to continue their positive move, RBI policy outcome could dictate the near term trend of markets along with the outcome of TCS earnings.

On Friday morning, the SGX Nifty is indicating that there is no stopping the stock markets bulls and they are likely to continue the jubilant form and pick up from where they left in the last trading session. SGX Nifty is trading up by 36 points and was seen trading at levels of 17,851.50 mark.

Cues from Asian markets: It’s a sea of green for Asian equities on Friday following a strong close on Wall Street in overnight trade. Japan’s Nikkei 225 has jumped more than 2%, while Hong Kong’s Hang Seng has added 0.14% and China’s Composite has advanced 0.49%.  

Overnight cues from US markets: On Wall Street stocks continued to move northward on Thursday after lawmakers reached an agreement to temporarily extend the debt limit, which resulted in avoiding a potential default. Tech-heavy Nasdaq led from the front as it surged up 1.1%, while the Dow and the S&P 500 gained 1% and 0.8%, respectively.

Last session summary: On Thursday, Indian benchmark indices ended the trading session firmly in positive terrain as Nifty and Sensex rose by 0.82%, each. The broader markets outperformed the frontline indices as Nifty Midcap 100 and Smallcap 100 jumped by 1.88% and 1.22%, respectively.

Among the sectoral indices, barring Nifty Energy, all other sectoral indices ended in green with Nifty Realty and Nifty Auto advancing 6.16% and 4.39%, respectively.

FII’s and DII’s activity on Thursday: DIIs were net buyers to the tune of Rs 2,528.64 crore, while on other hand, FIIs were net sellers to the tune of Rs 1,764.25 crore.

Important events to watch out for: The biggest event for the day is the RBI policy outcome. The monetary policy committee is expected to maintain its accommodative stance to maintain adequate liquidity in the system and support economic activity. In addition to this, market participants will keenly watch the Q2 earnings with IT bellwether TCS to set afire the ceremonial starters’ pistol for Q2 earning season post-market.