Sensex Set for Higher Start Amid Positive Global Cues

Indian stock markets are set to open higher, tracking higher Asian markets and Friday's rally on Wall Street. The Nifty futures on the Singapore exchange are trading 0.51 per cent higher at 7,860.

On the domestic front, the prospects for goods and services tax (GST) tax reform brightened as a panel headed by chief economic adviser backed a lower rate and simpler structure that the opposition Congress party had demanded.

On the political front, the developments in the winter session of the Parliament will be closely watched by analysts, especially the progress on the GST bill. 

However, the weakness in the rupee is a concern for the markets. On Friday, the rupee fell to over 2-year low of 66.99/dollar on the back of selling pressure from foreign institutional investors. 

Asian stock markets were mostly higher today, after another strong numbers on US jobs creation last week provided fresh evidence the economy is recovering and reinforced expectations of a December interest rate hike.

Also lifting the global sentiment, European Central Bank chief Mario Draghi on Friday hinted that he could beef up the stimulus.