Markets to open in green with a rangebound day

The Indian markets got some breathing space as they bounced back from their recent lows owing to short covering from the bears who have been dumping equities ever since the demonetisation move by the government. Markets were also helped by positive global cues on Tuesday, December 27. The markets slowly and gradually inched upwards in the previous trading session on low volumes. Both the benchmark indices gained more than one percentage points. Nifty closed well above 8000; whereas Sensex closed above 26200 on Tuesday, December 27.

European markets traded steadily post-Christmas break. Trading volume remained thin following the long Christmas holiday weekend. Markets in the U.K. remained closed in observance of Boxing Day.

US stocks too witnessed a similar trend like there European counterparts as markets gained on lower volumes and investors' participation.

Asian shares remained moderately flat in early morning trade on Wednesday, December 28, 2016 as all the major indices in the region traded flat to positive. However, Chinese CSI 300 witnessed a small correction from previous levels.

SGX Nifty is trading with gains of 0.20 per cent to the levels of 8033. We expect markets to open positive with limited upside and markets may move in a range for the day.