The Nifty managed to hold the 7900 mark with a sharp rally late in the session and a marginal gap-up opening is seen today with the SGX Nifty trading at 7937 at 7:45.
The Dow Jones hit an all-time record high with the S&P 500 reclaiming the 2,000 mark to close above it for the first time ever over better-than-expected economic data comprising a surge in orders for durable goods.
This positivity is likely to aid Indian market that showed resilience on Tuesday amidst volatility ahead of the expiry. The Nifty managed to hold the 7900 mark with a sharp rally late in the session and a marginal gap-up opening is seen today with the SGX Nifty trading at 7937 at 7:45.
In other markets, Asia was trading with a positive on the back of positive US markets and the European markets closed higher on raised hopes that the European Central Bank (ECB) will launch further stimulus programs to boost the economy.
In other asset classes, the dollar hovered just under a 13-month peak against a basket of major currencies early with the euro still struggling amid expectations of further policy easing from the European central bank.
Brent crude held steady at around USD 102 per barrel as bullish US consumer data overshadowed ample global oil supplies. Gold prices traded around USD 1280 an ounce following strength in dollar.
Back home, the Power and Finance Minister are set to meet today to discuss stake sale in Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) and possibly appoint bankers for the NHPC issue.
The government has also approved the reappointment of bankers for Coal India stake sale even as the cabinet meets today to clear the ONGC offer for sale (OFS).