Indices may open with modest gains following mixed cues from Asian peers

Indian indices are likely to open with modest gains as cues from Asia markets are mixed.  The SGX Nifty indicates Nifty is likely to open around 10,861, up by 20 points. The earnings of Yes Bank, Ultratech Cement, Sunteck, Sterlite Technologies, PVR, Pfizer, NIIT Ltd, Mphasis, Biocon, Colgate Palmolive are scheduled for today. 
  
Majority of Asian markets are seen declining on Thursday, despite the positive leads from the Wall Street overnight as worries about global economic growth dampened sentiments. Japan’s Nikkei 225 index slipped 0.44 per cent, China’s Shanghai Composite index has edged down 0.27 and Hong Kong’s index Hang Seng has dipped 0.24. 
  
Back home, Wednesday turned out to be dismal day for the markets as indices closed the session near their intra-day low points. After opening the session with modest gains, the indices failed to build upon early gains, and in the last leg of trading, it witnessed sharp corrective sell-off. The BSE Sensex lost 0.92 per cent and Nifty edged down 0.84 per cent. The broader markets ended in the red as well, with Nifty Mid-cap and Small-cap dipping 0.11 per cent and 0.28 per cent, respectively. Among sectoral indices, Nifty Media, Nifty Pharma and Nifty Metal ended in the green, while Nifty FMCG and Nifty PSU Banks ended as top losers. 
  
After a brief spell in the negative territory, the US equities bounced back to end the Wednesday's session in the green. The Dow outperformed its counterparts as it got a solid boost from upbeat results from members IBM, Procter & Gamble and United Technologies. The Dow Jones Industrial Average advanced 0.70 per cent, the S&P 500 index gained 0.22 per cent and the Nasdaq Composite rose 0.08 per cent. 
  
European equities ended Wednesday’s session with losses as the markets appeared to trade a bit cautious ahead of tomorrow’s monetary policy decision from the European Central Bank (ECB). The DAX of Germany shed 0.17 per cent, the CAC of France dipped 0.15per cent and the FTSE 100 of the UK lost 0.85 per cent.