Indian equities are poised to open higher on sustained buying by foreign portfolio investors (FPIs) as well as domestic institutional investors, tracking muted cues from fellow Asian peers. SGX Nifty is trading 10.00 points higher.
After strong rally in the last few sessions, the market may see some volatility as investors will rollover their position ahead of February F&O expiry on Thursday. Sensex closed at 28761.59, up by 100.01 points or by 0.35%, and the NSE Nifty ended at 8907.85, up by 28.65 points or by 0.32%.
Indian shares closed at their highest level since September as Axis Bank surged on a media report it would become the target of a takeover, although telecom firms fell after Reliance Jio Infocomm unveiled a sharply discounted tariff plan. The S&P BSE Sensex and CNX Nifty rose 0.35%-0.32% each
Asian stocks edged up today, joining a record-setting night for world markets as investors cheered upbeat factory activity in Europe and solid earnings on Wall Street.
European shares rose to their highest in over 14 months on Tuesday, with optimism generated by encouraging manufacturing surveys outpacing a steep decline in HSBC shares after a slump in the heavyweight bank's annual pre-tax profit.
US stocks rose to fresh record highs on Tuesday, boosted by strong earnings reports from Wal-Mart and Home Depot and continued optimism about the economic agenda of President Donald Trump.
Major Headlines of the day:
Power Grid wins 765kV transmission proj in eastern region
IDBI Bank to sell stake in non-core businesses
Dish TV partners with ICICI Bank for digital payments
Trend in FII flows: The FIIs were net buyers of Rs -1435.76 the cash segment on Tuesday while the DIIs were net sellers of Rs 1535.45 as per the provisional figures.
Securities in Ban For Trade Date 22-FEB-2017: