Indian markets are likely to open positive tracking SGX Nifty and global cues.
The US markets moved higher and closed with decent gain on Wednesday as
upbeat economic data came from around the globe. The strength in the market also
came following the release of the minute of the Federal Reserves last monetary
policy meeting where it was indicated that the decision to raise rates by a quarter
point was partly due to an assumption of more expansiory fiscal policy under
President elect Donald Trump. European markets started the day with a positive
note however closed on flat note as retailers reported a mixed sales data.
Indian markets traded in a narrow range on Wednesday also flattish services PMI
data for December 2016 impacted the sentiment. Auto stocks were in favor today
while cement stocks remained weak during the day. Index heavy weight Reliance
Industries also remained weak during the trading session.
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