Expect positive opening due to positive global and domestic cues

Indian equities indices jumped for a second straight session, led by a rally in Auto and Agri-based stocks owing to good monsoon expectations and in the aftermath of February's industrial output & March's  CPI inflation. The Sensex rose 123.43 points to 25145.59; and the Nifty closed above7700 mark; climbing 37.55 points to 7708.95. Broader markets also continued in momentum as retail investors enlarged their exposure, with the BSE Midcap and Smallcap indices gaining 1% and 0.9%, respectively.

IIP grew 2% in February after falling continuously for three consecutive months due to strong performance by mining and electricity sectors, while retail inflation moderated further in March. The Consumer Price Index (CPI) eased to a six-month low of 4.83% in March from 5.26% in February.

U.S. stock market posted solid gains on Tuesday as oil settled higher for a third day in a row after news reports said Saudi Arabia and Russia were working toward an agreement to cut oil production. The Dow Jones Industrial Average gained 164.84 points, or 0.9%, to close at 17,721.25. The S&P 500 Index rose 19.73 points, or 1%, to finish at 2,061.72. The Nasdaq Composite Index advanced 38.69 points, or 0.8%, to close at 4,872.09.

Oil prices advanced, with Brent futures adding 4.3% to USD 44.69 a barrel, while U.S. crude advanced 4.48% to USD 42.17.

European stocks finished higher on Tuesday, rising for a third consecutive session as the Stoxx Europe 600 Index closed up 0.5%. France’s CAC 40 closed higher by 0.8% at 4,345.91; and the U.K’s FTSE 100 rose 0.7% to 6,242.39. Germany’s DAX 30 finished up 0.8% at 9,761.47.

Asian markets rallied on Wednesday morning, after a rise in oil prices empowered gains in U.S. equities overnight and improved China trade data. Japan's Nikkei 225 stock Index advanced 2.5%, buoyed by relative weakness in the yen against the dollar. Australia’s S&P/ASX 200 Index gained 1.26% and New Zealand’s S&P/NZX 50 Index rose 0.8%. Markets in South Korea and Thailand are closed Wednesday. Chinese stock market opened higher, with the Shanghai composite advancing 2.23%.

On domestic front, A SGX Nifty 50 index future for April series traded up 59 points to 7,793. Indian markets are likely to open in green on account of positive global cues and improved domestic economic data.