Trends on SGX Nifty hints at positive note for indices

Benchmark Indices are expected to open on a positive note as trends on SGX Nifty indicates a gap up opening with 62 points gain.

Equity indices on Wall Street closed with gains overnight as NASDAQ zoomed 0.79 percent. The S&P 500 and Dow Jones followed. Among Asian stock markets, Shanghai Composite and TOPIX were in the red while others were up in green.

At 09:01 AM, the Sensex was up 284.66 points or 0.54 percent at 52873.37. The Nifty was up 86.70 points or 0.55 percent at 15859.50.

US Markets rebounded on Tuesday as Federal Reserve Chairman Jerome Powell vowed not to raise rates too quickly as the dollar and oil gave up earlier gains.

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Asian Markets showing mixed emotions following overnight gains stateside that saw the tech heavy Nasdaq Composite rising to a record high.

Crude oil prices settled slightly lower after Brent rose above $75 a barrel for the first time in over two years, as OPEC discussed raising oil production.

Quarterly results today

Key companies announcing their quarterly results today includes Apollo Hospital, Precision Wire India and Deepak Spinners. Immediate support and resistance for Nifty 50 are 15,600 and 15,900 respectivel