Indian markets ready to bounce back

The Indian equity benchmarks snapped their four-day winning streak on Tuesday. Sensex and Nifty hit their lowest closing in a week as both the indices declined by more than 1% amid geopolitical tension. Nifty slipped below its important psychological mark of 9,800 and Sensex dropped below the 31,400 level.

The European markets ended Tuesday’s session with deep cuts. The DAX of Germany dropped 1.46% and the CAC 40 of France slipped 0.94%. The FTSE 100 of the UK lost 0.87%.
 
The US’ stocks closed higher on Tuesday, with major indexes recovering from an early setback. The Dow Industrials marked the biggest single-day comeback of the year. The Dow Jones Industrial Average advanced 57 points to finish at 21,865. The Nasdaq Composite index rose 19 points to close at 6,302. The S&P 500 gained 2 points to reach 2,446.  

The Asian indices opened in the green on Wednesday as the US’ stocks posted a smart recovery in overnight trade. Japan’s Nikkei 225 has surged by 106 points. Hong Kong’s Hang Seng has added 190 points and China’s Shanghai Composite has gained 5 points.  
 
For the day expect the Indian market to bounce back after intense selling witnessed in the previous trading session since cues from the global markets are positive and the SGX Nifty, which was trading at 9,847 - higher by 59 points, indicated a gap up opening for the day.