Markets may open positive as global peers enjoy the earnings season

Indian benchmark indices got off to a robust start on Tuesday as investors were largely influenced by the positive sentiment from global markets.Thereafter, indices slowly and steadily gathered steam, surging higher. Eventually, the NSE’s 50-share broadly followed index, Nifty, rallied by close to a per cent to settle above the psychological level of 9300; while Bombay Stock Exchange’s Sensitive Index, Sensex, accumulated close to three hundred points, and closed above the psychological 29900 mark.The European markets ended Tuesday’s session with modest gains. The DAX of Germany climbed 0.10 per cent and the CAC 40 of France rose 0.17 per cent. The FTSE 100 of the U.K. gained 0.15 per cent.U.S. stocks rallied on Tuesday for a second session on the back of positive earnings’ reports, and ahead of President, Donald Trump’s promised reveal of a tax-reform plan this week. The Dow Jones Industrial Average closed higher by 232 points at 20,996. The Nasdaq Composite Index hit a major milestone, surpassing level of 6000, amid a broad-market rally. The S&P 500 finished up 14 points at 2,389.  
   
Asian markets edged higher on Wednesday after U.S. markets rallied overnight. Japan’s Nikkei 225 surged 141 points.  China’s Shanghai Composite is trading flat and Hong Kong’s Hang Seng advanced 125 points.At 7:58 am, SGX Nifty Index was trading with gains of 15.50 points at 9178, indicating index may extend the rally. Stock of Wipro will be in limelight as IT major reported better than expected results, and company also announced a bonus issue in the ratio of 1:1. Axis Bank is slated to report its earnings for quarter ended March 2017.

SGX Nifty

sgxnifty.org@imediaone.com

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