Asia Sends Green Signal, Indian Markets May Open Green

For the most part of the day, Indian equities market traded on a subdued note with a negative bias but selling pressure was seen in IT, FMCG and metal stocks in the last one hour of trade. Technology shares were down on the back of sharp increase in US visa fees. The Sensex was down 145.25 points or 0.6% at 25590.65 and the Nifty shredded 48.35 points or 0.6% at 7786.10. Among broader markets, BSE Midcap and Small Cap indices ended marginally lower.

Further, if Bankruptcy Bill is cleared in  Parliament then banking stocks which have been laggards in last six months may start to perform. The winter session of Parliament ends today (Wednesday, December 23).

U.S. stocks continued gains on Tuesday along with commodity prices and also digested the newly-released U.S. real gross domestic product (GDP) data. U.S. Commerce Department announced on Tuesday that the third estimate of real GDP increased at an annual rate of 2% in the third quarter of 2015, slightly down from the second estimate of 2.1% but above market expectations of 1.5%. The Dow Jones Industrial Average jumped 165.65 points, or 0.96%, to 17,417.27. The S&P 500 added 17.82 points, or 0.88%, to 2,038.97. The Nasdaq Composite Index increased 32.19 points, or 0.65%, to 5,001.11.

U.S. crude oil futures closed up 33 cents to USD 36.14 a barrel on the New York Mercantile Exchange. Brent crude, which is used to price international oils, was down 24 cents to USD 36.11 a barrel in London.

European stocks finished lower in a choppy session on Tuesday. The Stoxx Europe 600 fell 0.1%. Germany's DAX lost 0.1% to 10,489 while France's CAC 40 rose 0.1% to 4,568. Britain's FTSE 100 index rose 0.8% to 6,083. Spain’s IBEX 35 stock market index rose 0.5%, following a 3.6% decline Monday after inconclusive elections over the weekend.

Asian shares rose on Friday, following a positive lead from Wall Street as investors cheered strong U.S. GDP data. Japan’s stock market will be closed today for the Emperor’s Birthday. Australia’s S&P/ASX 200 Index climbed 0.92% and South Korea’s Kospi index rose 0.64%. China's Shanghai Composite extended gains into a third day, advanced 0.40%. A SGX Nifty 50 index future for December Series traded up 43 points at 7,827. Indian market may open in green following other Asian market.