Market Likely To Open In Green On Positive Global Cues

Indian equity market slid more than 1 per cent on Wednesday following rising concerns about India Inc earnings, falling commodity prices and weak global markets. Investors may have also lightened their positions ahead of the FOMC minutes of meeting. The Sensex shed 1.48% or 381.95 points to close at 25,482.52, while Nifty breached 7800-mark, down 105.75 points or 1.35% to close at 7731.80. The fall in broader markets was less compared to benchmarks as the BSE Midcap and Smallcap indices were down 0.7% each.

U.S. equities closed higher on Wednesday after the minutes from the Federal Reserve’s October policy meeting confirmed that a majority of policy makers were open to an interest-rate hike in December. The S&P 500 closed 33.14 points, or 1.6%, higher at 2,083.58, its biggest gain in four weeks. The Dow Jones Industrial Average rallied 247.66 points, or 1.4%, to finish at 17,737.16. Meanwhile, the Nasdaq Composite ended the day up 89.19 points, or 1.8%, at 5,075.20.

Markets in Europe ended mixed. Germany's DAX dipped 0.1%, while France's CAC-40 lost 0.6%. The FTSE 100 edged up 0.2%.

Benchmark U.S. crude rose 8 cents to close at USD 40.75 a barrel on the New York Mercantile Exchange. It briefly dipped below USD 40 a barrel for the first time since August. Brent crude, used to price international oils, rose 57 cents to close at USD 44.14 a barrel in London.

Asian share markets rose on Thursday, following a rally in Wall Street overnight to the release of Federal Reserve's October meeting minutes that signaled a likely interest rate hike in December. Japan’s NIKKEI 225 index advanced 1.4% after the yen weakened against the dollar for a third day on Wednesday. The Japanese market traded higher as October's trade hit a surplus of 111.5 billion yen (USD 902.5 million), beating estimates of a shortfall. Australia’s S&P/ASX 200 Index gained 1.46% aiming for a third straight session of gains. New Zealand’s NZX 50 Index added 0.21% and South Korea’s Kospi index rose 1%. Shanghai Composite index edging up 0.23%.

A SGX Nifty 50 Index future for November delivery was up 66 points at 7,791. Indian market is likely to open in green due to positive global cues.