Market Likely To Open Positive

Indian equities indices extended losses for the fourth straight session on Monday as concerns over a slower-than-expected macro recovery and weak earnings growth resurfaced. One of the major factor depressing sentiments was the Rs 40,000 crore retrospective minimum alternate tax claims on FIIs. The Sensex tumbled 555.89 points or 1.95% to close at 27886.21. The Nifty fell 157.90 points or 1.83% to close at 8448.10. Mid and small cap stocks too got hammered on expecting a muted earnings growth in Q4FY15 will not justify the high valuations that many companies are quoting at. The BSE Midcap and Smallcap indices were down 2% each.

U.S. stocks markets rallied on Monday amid an unexpected stimulus from China's central bank as investors kept eyeing corporate earnings. The S&P 500 closed 19.22 points, or 0.9%, higher at 2,100.40. The Dow Jones Industrial Average jumped 208.63 points, or 1.2%, to 18,034.93. The Nasdaq Composite ended the session up 62.79 points, or 1.3%, to 4,994.60.

European markets also ended higher Monday, recovering from a selloff at the end of last week, after China's central bank cut the amount of money that banks must hold as reserves. Greece, meanwhile, remained in focus as a deadline looms for the debt-strapped country to agree on economic reforms. The Stoxx Europe 600 SXXP gained 0.8% to 406.87. Germany’s DAX 30 jumped 1.7% to 11,891.91, and the U.K.’s FTSE 100 UKX leapt 0.8% to 7,052.13. France’s CAC 40 climbed 0.9% to 5,187.59.

Asian stocks markets rose on Tuesday following a rebound in U.S. shares as the yen’s first drop in seven days buoyed Japanese exporters. Japan’s Topix index gained 1.3% after the yen weakened 0.2% Monday. South Korea’s Kospi index added 0.3%. South Korean shares trading at flat, while Australian shares rose 0.6%. China's Shanghai Composite index edged up 0.3%.

SGX Nifty is trading at flat. Indian market is likely to open positive following other Asian market. DIC Ind, HCL Tech, Symphony, VST Ind and Wipro would be reporting fourth quarter earnings today.