Market likely to extend previous session's gains
Indian equities are set to continue their gaining streak on Wednesday after a strong pullback rally yesterday, despite muted cues from global markets . SGX Nifty is trading 17.50 points higher.
The market may also see some volatility as trader will rollover their positions ahead of derivative expiry of December series scheduled on Thursday
Indian shares rose over 1% on Tuesday, rebounding from a seven-month low hit in the previous session to post gains in the year so far, as investors bought into shares of companies that were hit recently. The S&P BSE Sensex and CNX Nifty rose 1.57%-1.58% each.
Asia stocks followed Wall Street higher early on Wednesday, while the dollar firmed against major peers such as the yen following the release of upbeat U.S. economic data overnight.
European shares were steady on Friday with the focus on lenders after Deutsche Bank and Credit Suisse settled mortgage securities fraud suits in the United States, and Italy's Monte dei Paschi agreed to a bailout.
U.S. stocks rose slightly on Tuesday, supported by upbeat consumer and housing data, with gains in technology shares lifting the Nasdaq Composite to a record close.
Major Headlines of the day:
Religare Enterprises board okays merger of 11 subsidiaries
Sunil Hitech gets road EPC project worth Rs 434 cr in Arunachal Pradesh
Dhanuka to approve final terms & conditions of Buy Back
Trend in FII flows: The FIIs were net buyers of Rs -712.17 Cr in the cash segment on Tuesday while the DIIs were net sellers of Rs 1502.41Cr, as per the provisional figures.