Market Likely To Open In Green

Indian equities markets rose in late trade on Tuesday, rebounding from intraday falls of nearly 1% after CBDT said it won't use coercive methods to recover MAT dues from FIIs and would wait for the Supreme Court order on the issue. The Sensex fell more than 200 points intraday on global woes but short covering in banks, auto and FMCG stocks lifted the market higher in late trade. The index rose 99.96 points to 26686.51 and the Nifty managed to hold 8000 level, up 33.40 points at 8047.30 after seeing almost 100 points recovery from day’s low. The broader markets also recovered with the BSE Midcap and Smallcap indices rising 0.8% and 0.3%, respectively.

U.S. stocks closed higher on Tuesday rallied from earlier losses, as investors shrugged off worries about unsuccessful Greek debt talks and awaited the outcome of a two-day Federal Reserve policy meeting which concludes on Wednesday. The S&P 500 added 11.86 points, or 0.6%, to 2,096.29, while the Dow Jones Industrial Average gained 113.31 points, or 0.6%, to 17,8904.48. Meanwhile, the Nasdaq Composite rose 25.58 points or 0.5% to 5,055.55.

European stock markets turned higher Tuesday, while worries over Greece also hurt sentiment. The Stoxx Europe 600 index ended up 0.6% at 385.49. Germany’s DAX 30 index reversed course and ended up 0.5% at 11,044.01. France’s CAC 40 index turned up 0.5% to 4,839.86. The U.K.’s FTSE 100 index pared losses, slipping less than 1 point to 6,710.10. Greece’s Athex Composite Index slid 4.8% on Tuesday to end at 703.05 after dropping 4.7% on Monday.

Asia share markets turned mixed as investors awaited a Federal Reserve decision on U.S. monetary policy. Japan’s Topix index reversed early gains and fell 0.24%. South Korea’s Kospi index traded at flat. Australia’s S&P/ASX 200 Index gained 1.2% and New Zealand’s NZX 50 Index slid 0.38%. China's benchmark Shanghai Composite index tanked over 2%, extending losses following Tuesday's 3% selloff, as investors continued to worry about an upcoming wave of IPOs and margin financing curbs.

The SGX Nifty was up 25 points at 8,076. Indian markets are likely to open in green.