Markets are likely to open on a positive ground amid supportive global cues and strong inflows from foreign investors. As of 8:00 AM, the SGX Nifty Futures quoted at 17,256 levels, indicating an upside of nearly 100 odd-points on the Nifty50.
Globally, the US markets saw a sharp rise on Friday after investors discarded recession fears. Dow Jones gained 0.9 per cent, while the S&P 500 climbed 1.4 per cent, and NASDAQ Composite rose 1.8 per cent.
That apart, major markets in Asia-Pacific were mixed on Monday morning as Nikkei 225 rose 0.05 per cent and South Korea's Kospi declined 0.5 per cent.
Meanwhile, prices of crude oil declined on demand worries. Brent Crude slipped 0.6 per cent to $103 per barrel and WTI Crude declined 0.7 per cent to $97 per barrel.
Back home, companies will continue to report financial results for the June quarter (Q1FY23) - Zomato, ITC, Varun Beverages, and UPL. Besides, shares of ACC and Ambuja Cements will be in focus after Adani Group raised $5.2 billion from global banks to fund their acquisition.
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