Indian markets are expected to open positive tracking SGX Nifty.
US markets closed higher though off from days high as oil futures and upbeat housing data acted as a support. A data from the US Energy Information Administration showed a fall in weekly domestic output for a six straight week as a result crude oil futures turned higher. The Dowjones closed up 42 points. Over the past one month the market has been supported by formerly beaten down sectors indicating a possible broader investor churn in sectors like energy materials and industrial.
European indexes closed higher with DAX closing up 70 points and CAC closing 25 points up. Speculation over further easing of monetary policy by the ECB lifted the indices.
Indian indices closed flattish on Wednesday ahead of results to be announced by index heavy weight Reliance Industries and HDFC Bank during the week. However BSE Midcap and Small cap indices showed some strength and selective stocks witnessed seed buying interest.
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