Indian markets will begin the day on a positive note today, as Gift Nifty futures showed a strong start. This comes on the heels of a healthy performance on Tuesday when the Sensex jumped 1,131 points and the Nifty gained 325 points due to gains in financials and metals. The optimism stems partly from China's economic stimulus and a weakening U.S. dollar, which lifted Asian markets. All India's major sectors advanced, with the auto and capital goods indices rising substantially.
Global cues such as the US Federal Reserve policy decision and Trump-Putin meeting on Ukraine are major drivers of market sentiment. Nevertheless, a selloff in tech stocks in the US has kept market participants guarded. Foreign investors went net buying for the first time this month in India, favoring the bull run in the market. Domestic institutional investors too remained net buyers, further aiding market sentiment.
Sources: Financial Express, Moneycontrol, Business Standard