Markets may witness strong opening tracking positive global leads

The Indian markets go into Wednesday’s session with a head start as SGX Nifty suggests that Nifty may open above the 11,000 mark. It would be very crucial to watch the price behaviour around this level as the index has been seen resisting multiple times near about this level. The market participants would keep an eye on Adani Ports, Adani Power, AstraZeneca, CG Power, Balkrishna, Cipla, Cummins India, IGL, JSW Steel, Lupin, Muthoot Finance, PTC and Siemens as these companies report their earnings today. 

Markets in Asia are buoyant on Wednesday tracking strong leads from the Wall Street overnight. The Japanese stock market Nikkei 225 has advanced 0.58 per cent, while the Chinese and Hong Kong stock markets were closed on account of Lunar New Year.  . 
  
Back home, the equity benchmark indices ended Tuesday’s session with minor downtick. After opening the session on a slightly negative note, the indices traded in a narrow range throughout the session before closing with meagre gains. Nifty added 0.20 per cent to close at 10,934 and the BSE Sensex rose 0.09 per cent to finish at 36,617. The broader market indices continued their underperformance, with Nifty Mid-cap and Nifty Small-cap shedding 0.77 per cent and 1.39 per cent, respectively. Talking about sectoral indices, a mixed trend was seen as Nifty Media, Nifty Auto, Nifty Private Bank registered healthy gains, while Nifty Realty, Nifty Metal and Nifty FMCG ended as top losers. 
  
The US stocks ended Tuesday’s session on a firm note as good earnings from Google parent Alphabet helped boost the indices. The Dow Jones jumped 0.68 per cent to 25,412, the S&P 500 gained 0.47 per cent to 2,738 and the tech-heavy Nasdaq Index rose 0.74 per cent to 7,402. 
  
The European indices finished Tuesday’s session on a cheerful note as market participants reacted positively to some buoyant earnings reports. The DAX of Germany climbed 1.71 per cent, the CAC of France soared 1.66 per cent and the FTSE 100 of the UK edged higher by 2.04 per cent.