Indian markets likely to open on positive note

Indian capital markets continued with the rally on Tuesday. The Indian markets touched 11-month high on July 12. The BSE Sensex increased 181.45 points or 0.66% quoting 27808.14 and Nifty also rose by 53.15 points or 0.63% quoting 8521.05. All of the sectoral indices turned into green except FMCG, IT and Healthcare during the entire session.

Wall Street also opened positive on Tuesday. The Dow Jones increased by 0.66% to 18348. The S&P 500 also rose by 0.70 per cent quoting 2152.  U.S. benchmark crude, WTI decreased 0.88% to USD 46.39, while Brent crude, the international standard, also reduced 0.87% to USD 48.05.

Germany's main index, the DAX, boosted 1.33% to 9964 along with France's CAC 40, which too rose 1.57% to 4331. Britain's FTSE 100 remained flat and declined by 0.03% quoting 6681.

Markets in Asia are trading with bullish trend during the morning session on Wednesday. The Shanghai Composite index has increased by 0.36%. Japan’s Nikkei 225 index has increased by 1.45%. Australia’s S&P/ASX 200 Index has risen by 0.41% while New Zealand’s S&P/NZX 50 Index has increased by just 0.05%. South Korea’s KOSPI also has declined 0.80%. The Hang Seng Index has increased by 0.78%.

While on domestic front, A SGX Nifty index future for July series is trading up by 21 points at 8545. The Index of Industrial Production (IIP) stands at 1.2 per cent in May against -0.2 per cent in April month. The CPI inflation is marginally up at 4.77 per cent during June month. Indian markets are likely to open on a positive note.