Markets may open positive as major world markets cheer Fed rate hike

Indian benchmark indices after registering a robust rally on Tuesday opened Wednesday's session on a flattish note, and traded in a narrow range for the entire trading session as market participants remained cautious ahead of the US Fed monetary policy review. At close, the NSE’s 50-share broadly followed index, Nifty, ended marginally lower and held the psychological 9,050 support level, while Bombay Stock Exchange’s Sensitive index -- Sensex declined by around fifty points to finish below its psychological 29,400 mark.

The European markets ended Wednesday's session with marginal gains. The DAX of Germany climbed 0.18 per cent and the CAC 40 of France rose 0.23 per cent. The FTSE 100 of the U.K. gained 0.15 per cent.  

U.S. stocks finished higher on Wednesday as US FOMC hiked interest rate by 25 basis points, inline with market expectations, and it gave guidance that the trajectory of future rate hikes will likely remain gradual. The Dow Jones Industrial Average rose 113 points, the S&P index advanced 20 points and the Nasdaq Composite index gained 43 points.

Most of the Asian stocks are trading in positive territory on Thursday. Japan’s Nikkei 225 lost 0.13 per cent. Hong Kong’s Hang Seng surged over 1 per cent. The Shanghai Composite gained 0.68 per cent.

At 8:13 am, SGX Nifty index was trading with gains of 71 points at 9180.50, indicating a gap-up start for Indian equities.