Indian market is expected to open on a positive note tracking the SGX Nifty.
The US markets continued their gains on Tuesday as investor optimism over the outlook under President Trump lifted stocks. Existing home sales climbed to their highest in nearly a decade for the month of October. Existing home sales increased by 2.0 % to an annual rate of 5.6 mln in October after jumping by 3.6 % to a revised 5.49 mln in September. Steel stocks also rallied sharply after Trump’s pledge to pull out of the TransPacific Partnership on his first day in office.
FTSE 100 extended its gains from the Tuesday session on strengthening in commodity prices. Mining and energy stocks rallied in response to higher underlying commodity prices. Miners Anglo American Antofagasta BHP Billiton Glencore and Rio Tinto climbed between 3 to 5 percent as a weaker dollar drove copper and iron ore prices higher. Energy major Tullow Oil soared 4 percent Royal Dutch Shell rose over 1 percent and BP Plc advanced 1.

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