The Indian benchmarks are set to open higher on Wednesday amid positive global cues from its Asian peers.
After ending Monday on a lower note, the market opened on a positive note, driven by a rally in the banks.
Positive trend in the SGX Nifty Index Futures for March delivery, which were trading at 9140, up by 26.50 points or 0.29 per cent, at 10:34 AM Singapore time, signalled a higher opening for the domestic bourses.
On Tuesday, the Indian equity benchmarks rebounded strongly on sustained foreign inflows, following rally in Asian markets as investors shrugged-off President Trump’s failure to push through his healthcare reform.The market witnessed some bargain hunting which pushed bank and auto stocks higher, while realty and oil&gas stocks emerged as top laggards on the BSE.
The currency market was closed on account of Gudi Padwa holiday.
The euro pulled back to USD 1.0814, while the dollar bounced to 111.21 yen. Against a basket of currencies, the dollar was a fraction firmer at 99.759 .
The Dow snapped an eight-day losing streak, its longest run of losses since 2011, in part as a survey showed consumer confidence surged to a more than 16-year high. Japan's Nikkei added 0.1 percent, having climbed over 1 percent the previous day.
Asian shares inched ahead on Wednesday while the dollar and commodities rallied as investors shook off disappointment about US President Donald Trump's failed healthcare bill and focussed on an improving outlook for global growth.
Major Headlines of the day:
Mahindra Lifespace Developers will also be in focus as it turns ex-rights on Thursday. It has fixed the price at Rs 292 a share for its Rs 300-crore rights issue.
Axis Bank soared over 3 per cent after the private sector lender said that it has raised senior notes aggregating to USD 10 million under the medium term note (MTN) programme through its Dubai International Financial Centre (DIFC) branch.
Kotak Bank lines up press conference tomorrow. Kotak Mahindra Bank has been in the news for the past two months.
Trend in FII flows: The FIIs were net buyers of Rs 6415.38 the cash segment on Tuesday while the DIIs were net sellers of Rs 356.23 as per the provisional figures.
Securities in Ban For Trade Date 29-MAR-2017: