Positive beginning seen as Asian peers buzz with upbeat sentiments

Indian markets are likely to open on a positive note following upbeat sentiments currently seen in the other Asian markets. The SGX Nifty is trading at 10,417 with gains of 38 points.  

India jumped by 30 notches in the World Bank’s 'Ease of Doing Business' ranking from 130 to 100. India stands out among the 10 economies that showed maximum improvement in rankings in the last one year.  

Stocks of auto companies are likely to stay in focus as automakers report their monthly sales numbers for October.  

The stocks of companies like Apollo Tyres, ENIL, Godrej Consumer Products, Hexaware Technologies, Hero MotoCorp, JSW Energy, Tech Mahindra, Max India, Shriram Transport Finance and TVS Motors will be in focus today as these companies are expected to announce earnings today.   

Asian shares gained on Wednesday following positive leads from Wall Street. Japan's Nikkei 225 has surged 1.43% followed by Hong Kong’s Hang Seng which has gained 0.56% and China’s Shanghai Composite which has added 0.33%.  

Back home, key benchmark indices opened on a flattish note with a slight negative bias and remained in the negative terrain throughout the day. At the end of the trading, the Sensex snapped its six-day winning streak as it closed at 33,213 with loss of 53 points and the Nifty index slipped 28 points to settle at 10,335. Buying interest was evident in the broader market as Nifty Mid-Cap and Nifty Small-Cap gained 0.12% and 0.49%, respectively.   

In the US, all three benchmark indices closed in the positive territory on the back of strong quarterly results. The Dow Jones Industrial Average scaled up 29 points to 23,337. The S&P 500 inched up 2 points to 2,575. The tech-heavy Nasdaq reached a new record closing. The Federal Reserve is also scheduled to announce its latest monetary policy decision on Wednesday.  

European indices ended Tuesday’s session with modest gains. The French CAC 40 index gained 0.18% and FTSE 100 of the UK added 0.07%, while the German DAX was closed for a public holiday.