Markets may open flat to positive, as the mood for an upswing has been set by Yellen, globally

Indian benchmark indices after getting off to a positive start on Monday, slipped into negative territory and continued their dull performance throughout the session, eventually ending the session with moderate cuts. The NSE’s 50-share broadly followed index - Nifty settled with modest losses of around thirteen points below the psychological level of 8,800; while Bombay Stock Exchange’s Sensitive index - Sensex shed twelve points and closed above the psychological 28,300 mark.

The European markets were relatively flat during Tuesday's trading session. After fluctuating between small gains and losses over the course of the day, the markets finished with mixed results. The DAX of Germany dropped 0.02 per cent, but the CAC 40 of France rose 0.13 per cent. The FTSE 100 of the U.K. declined 0.14 per cent.

The U.S. stock market indexes closed at all-time highs for a fourth straight session on Tuesday, driven by jump in financial shares. Banking stocks rallied post the Federal Reserve Chairwoman, Janet Yellen indicated that the central bank could gradually increase interest rates sooner than later. The Dow Jones Industrial Average advanced 92.25 points, the Nasdaq Composite Index rose 18.62 points and the S&P 500 climbed 9.33 points.

Asian shares extended the global rally in equities after Federal Reserve Chair, Janet Yellen said higher interest rates might be warranted if the U.S. economy stays on course.

At 8:01 am, SGX Nifty index has gained 19 points to 8,840, indicating a positive start for Indian equities.