Markets may see positive start following optimistic cues from Asian peers

Indian markets are expected to witness positive start as the cues from Asian markets are supportive. The SGX Nifty is trading up by 28 points at 10,340 level, indicating a positive start to the day.  
  
Asian stock indices are trading in the green in early deals on Wednesday as US bond yields gave back a recent upmove that has been a source of global market uneasiness. Hong Kong’s Hang Seng has jumped 0.98 per cent, China’s Shanghai Composite has climbed 0.77 per cent and Japanese Nikkei 225 index has edged up 0.03 per cent.  
  
Back home, after registering modest gains in the previous trading sessions, the key benchmark indices resumed their downtrend on Tuesday with Nifty shedding 47 points close at at 10,301 and BSE Sensex losing 175 points to end at 34,299. The broader market indices ended with marginal losses as Nifty Mid-cap and Small-cap dipped 0.32 and 0.24 per cent, respectively. The sectoral indices exhibited a mixed trend, with Nifty Media, Nifty Pharma and Nifty Metal ending as top gainers, while Nifty Auto and Nifty FMCG finishing as top losers.  
  
Major US equity indices witnessed a roller-coaster ride on Tuesday before closing mixed for the second day in a row. At the closing bell, the Dow Jones Industrial Average shed 56 points, the S&P 500 dipped 4 points, while tech-heavy Nasdaq Composite Index added 2 points. The treasury yields cooled off over the course of the session after moving higher initially, which provided the much-needed relief for the markets as rising treasury yields had scared the markets of late.  

The European stocks moved higher on Tuesday as US bond yields retreated from the multi-year highs seen earlier in the session. The DAX of Germany advanced 0.25 per cent, the CAC of France rose 0.35 per cent and the UK’s FTSE 100 added 0.06 per cent.