Indian markets are expected to open in the green tracking the SGX Nifty.
Strong bounce back in the oil prices coupled with increased buying interest across
some of the heavyweights ahead of the earnings season led U.S. markets close with
over 1% gains. Better than expected quarterly earnings of 3M (MMM) PG Johnson
and Johnson Sprint also contributed to the rally.
Most of the European indices moved upside. FTSE 100 was up 0.6% German DAX
and French CAC were up 1% each. Oil players like BP Royal Dutch Shell BG
Group listed in FTSE reported over 1% gains.
Indian stock markets failed to hold the entire gains in last couple of hours of trade
on Monday tracking volatility in the Europe markets and correction in the oil prices
after Fridays rally. Sensex surged over 200 points intraday but trimmed its gains in
the afternoon trade especially after the European markets fell. HDFC Bank gained
nearly a % after its inline third quarter earnings matched the analysts expectat
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