Indian markets are likely to open flat with a positive bias tracking SGX Nifty and
global cues.
After a long holiday period the US markets opened on strong note on Tuesday and
moved up sharply. While major indices came off from days high they closed with a
positive note for the day. A positive economic data by Institute for Supply
Management showed that PMI for December increased to 54.7 from 53.2%
showing strength in the economy and this could have helped the sentiment.
Most of the European markets also ended on a positive note on the back of positive
economic data from UK. Further positive data points both from US and China also
played a role in yesterday’s trade.
Indian markets traded in a narrow range on Tuesday. While banking stocks which
had been weak in the previous trading session saw some buying interest on the
other hand oil marketing companies recovered on the news of hikes in petrol and
diesel prices.

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