Markets may open slightly higher on positive global cues

Tuesday’s session was a historic day for Indian equities as benchmark index Nifty breached the 10,000 mark for the first time in opening trade but soon slipped below the historic level, as traders opted to book profits at a higher level. Sensex too touched another record high of 32,374.30 in initial trade. At the end of the day, India markets ended Tuesday’s session near the flat line.

The European markets rebounded from three days of losses on Tuesday and ended the day with notable gains. Sentiments remained upbeat after better than expected business confidence data from Germany and by the progress that is being made in Greece. The DAX of Germany rose 0.45 per cent and the CAC 40 of France surged 0.65 per cent. The FTSE 100 of the U.K. climbed 0.77 per cent.

U.S stocks ended Tuesday’s session in the green with Caterpillar and McDonald’s posting notable gains after reporting better than expected earnings. The Nasdaq Composite and the S&P 500 scaled to new record closing highs. The S&P 500 advanced 7 points to finish at 2,477 and the Nasdaq inched up 1 point to close at 6,412. The Dow climbed 100 points to close at 21,613.

Most Asian stocks inched up in early trade on Wednesday; Japan’s Nikkei 225 has surged 102 points to 20,058. Hong Kong Hang Seng has was up 49 points to 26,901 and China’s Shanghai Composite gained 9 points to 3,253.

Indian market may open on a flat note with a positive bias, tracking positive sentiment prevailing in the Asian markets and decent performance on Wall Street in overnight trade. The SGX Nifty which is trading at 9,977 up by 4 points also indicated a flat start for the domestic indices. Key stocks which will report their quarterly earnings on Wednesday are as follows Bharat Financial Inclusion, Federal Bank, HDFC, L&TFH, Nestle and Yes Bank.