Indian markets are likely to open flat tracking global indices and SGX Nifty.
U.S. stocks showed a strong move to the upside yesterday and managed to hold on to most of their gains throughout the afternoon. The upward move on the day came on the heels of the notable weakness seen in the previous session. The major averages pulled back off their best levels of the day but still closed firmly in positive territory. The Dow Jones was up by 0.4% to 25415 and the Nasdaq rose by 0.6% to 7672.
U.K. shares were modestly higher on the last trading session as investors digested a barrage of earnings reports and looked forward to the Fed and BoE meetings. The benchmark FTSE 100 was up by 0.6% to 7748.
On domestic front Indian shares extended their winning streak to close at fresh record highs on Tuesday ahead of key RBI policy meet outcome due today. The central bank may raise rates by 25 bps after June inflation accelerated to a fivemonth high of 5 percent. The BSE Sensex inched upDownload Full Report