The market is likely to open in the green, carrying on the market trend of Friday, due to mixed global cues, rupee and oil recovery.

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The US market ended mixed with Dow Jones and S&P500 ending in the red while the Nasdaq ended with a 13-basis point advantage.

The SGX Nifty is trading at levels around 10,630 as against the Nifty May Future's Friday close of 10,602, indicating a green opening for the market.

The Asian markets are trading higher, except for the Shanghai index which is trading in the red. Japan's Nikkei is trading slightly above its flat, but with a positive bias and Korea's Kospi is trading higher with a 67-basis point advantage. The Shanghai index (SSE composite index), however, is trading in the red as trade war concerns with US and US-North Korea talks are failing to materialise.

The index, however, is slowly recovering after China posted its industrial growth. Profits earned by Chinese industrial firms in April rose at their fastest pace in six months, data from the National Bureau of Statistics (NBS) showed on Sunday, as factories benefited from higher prices and strong demand.

The rupee recovered sharply on Friday, by 56 paise, clocking its biggest single-session rally, surging by a whopping 56 paise to close at 67.78 against the US dollar amid a rise in local equities and cooling global crude oil prices.

The oil prices are cooling down since Thursday. The prices fell on Monday, extending a steep decline in the previous session, as the market eyed an increase in output from the world’s three top crude producers, Russia, the United States and Saudi Arabia.

However, the fuel prices rose for the 15th consecutive day on Monday, which can keep the investors from being extremely bullish in trade.

On the earnings front, L&T, Oil India, Aurobindo Pharma, NTPC, NMDC, Bank of India, among others, will declare their quarterly results.

First Published:May 28, 2018 7:22 AM IST