Markets Likely To Open In Green

After Six sessions of losses, Indian equities markets regained some momentum on Wednesday after the MSCI deferred the addition of China’s A shares in its MSCI Emerging Market index which had prompted foreign investors to pull out funds. The Sensex ended the session at 26,840.50, up 359.25 points, or 1.4% from previous close. The Nifty closed at 8,124.45, up 102.05 points, or 1.3% from previous close. The broader markets also rallied in line with benchmarks. The BSE Midcap and Smallcap indices gained 1% each.

U.S. shares rebounded sharply on Wednesday from recent selloffs amid optimism Greece will reach a deal with creditors and energy stocks rallied as oil advanced to a 2015 high. The S&P 500 index climbed 25.05 points, or 1.2%, to close at 2,105.20. It was the best day for the broad-market benchmark in a month. The Dow Jones industrial average rallied 236.36 points, or 1.3%, to 18,000.40, while the Nasdaq composite gained 62.82 points, or 1.3%, to 5,076.69.

Oil’s rally since the end of January has stoked inflation expectations and cut the appeal of fixed payments. WTI oil climbed to USD 61.43 a barrel, following Tuesday’s 3.4% jump. U.S. crude stockpiles fell a sixth week, the longest stretch of declines since August. Brent crude rose 82 cents to close at USD 65.70 a barrel in London.

European markets also jumped Wednesday as investors hoped for a break in the impasse between Greece and its creditors over extending the country's bailout loans. The Stoxx 600 surged 1.8 percent for its first rise in seven days. Greece’s ASE Index ended 1.1% lower before the report on Germany’s stance. Frankfurt's DAX 30 index rose 0.81% to 11,089 points and the CAC 40 in Paris won 0.66% to 4,882.20. London's benchmark FTSE 100 of leading companies advanced 0.42% to 6,782.1 points compared with Tuesday's close.

Asian stocks rose on Thursday, following U.S. shares higher, with South Korean shares supported by the Bank of Korea's decision to lower its base rate by 25 basis points to 1.50%. Japan’s Topix index gained 1.38%. New Zealand’s NZX 50 Index jumped 1%. South Korea’s Kospi index climbed 0.34%. Australia’s S&P/ASX 200 Index added 1.30%. The Shanghai Composite Index slipped 0.1% on Wednesday after swinging between a loss of as much as 2.2% and a gain of 1%.

The SGX Nifty was up 54 points at 8,168. Indian markets are likely to open in green on positive global cues.