Market may open higher on positive global cues

Indian benchmark  index after getting a solid start, slipped into negative terrain in the late morning session. However, the indices managed to pare most of the losses in the late afternoon session and ended the session on Tuesday with marginal gains. To conclude, NSE’s 50-share broadly followed index Nifty, registered single digit gains to settle above the crucial 9,300 support level, while Bombay Stock Exchange’s Sensitive Index Sensex gained around three points and ended below the psychological 30,000 mark.The European markets eked out gains on Tuesday, as investors sentiment received a lift from the news that Greece has agreed to a bailout deal. Additionally, upbeat economic data further contributed to the positive mood among market participants. The DAX of Germany climbed 0.56 per cent and the CAC 40 of France rose 0.70 per cent. The FTSE 100 of the U.K. advanced 0.64 per cent.  U.S. stocks ended the session on Tuesday with modest gains, though investors mostly held off on making big bets as the Federal Reserve’s two-day policy meeting was underway. The Nasdaq Composite closed at a record high for a second session on Tuesday as it closed at 6,095 with gains of 4 points. The Dow Jones Industrial Average rose 36 points to close at 20,950. The S&P 500 index gained 3 points to close at 2,391.Most of the Asian markets are trading in positive territory on Wednesday. Japan’s Nikkei 225 trading higher by 135 points and Hong Kong’s Hang Seng surged 81 points. While bucking the trend China’s Shanghai Composite slipped 3 points.At 8:02 am, SGX Nifty Index was trading with gains of 16 points at 9362, indicating optimistic start for the Indian Stock Markets.

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