According to Ventura Securities, markets to open in green on positive global cues supported by buoyant domestic factors.
Sensex, on Wednesday, gained 104 points and closed at 28,889. The rally continued for the fifth consecutive session as the IMF stated that India could grow at a faster pace than China inFY17.
Among sectors, Consumer Durables, Teck, IT, Capital Goods and Infra rallied the most. Among stocks, HUL, Bharti Airtel, HDFC and SBI ended strong. However, market breadth was negative with 1,212 advances against 1,736declines.
Nifty gained 34 points and closed at 8,730. Today we expect the markets to open in green on positive global cues supported by buoyant domestic factors.
US markets ended on a positive note yesterday; Dow closed 0.22 percent up, while Nasdaq gained 0.26 percent on hopes that the ECB will dole out monetary stimulus in its meeting scheduled today. ECB is considering a bond-buying program of about €50 billion a month to help revive the Eurozone. US markets, today, will see data releases on Unemployment Claims, HPI m/m, Natural Gas Storage, and Crude Oil Inventories.
Asian markets are trading ona mixed note with Nikkei down 0.1 percent and Hang Seng up 0.7 percent; China's Central Bankhas injected USD 8 billion liquidity in the markets leading to third straight day of gains for Hang Seng. SGX Nifty is trading up 30 points at 8,774. Indian ADR sended the day on a positive note. Among financial ADRs, ICICI Bank closed 0.41 percent up and HDFC Bank closed 0.14 percent up. Among IT ADRs, Wipro was up 3.21 percent, while Infosys was up 1.71 percent. Tata Motors was up 1.7 percent.
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