The Indian markets have given up their morning gains and are trading in the red zone, with the Sensex and Nifty both down by 0.35%. Nifty is still trading below the 4900 levels, while the Sensex is holding the 16100 levels.

As expected in our morning updates, the Indian markets opened in the positive territory extending yesterday’s gains.

The Indian equity markets may extend yesterday’s gains and open positive. The SGX Nifty is trading up by 43 points at 4,925, indicating a gap up opening to the markets today.

Indian equity markets may open sideways with a negative bias. The SGX Nifty is trading down by 9 points at 4889 indicating a flattish gap down opening to markets today.

The markets recovered from their initial fall today. The falling rupee was also seen recovering from the near 55 levels. A good financial performance by SBI has helped the lift the market sentiments.

After opening on weak note today, the Indian markets recovered all of their losses post the announcement of SBI's Q4 results, which came in better than the street's expectation. The Sensex and Nifty are both marginally up by 0.20%.

The markets have opened in the negative again today owing to the strong negative cues. The rupee has recorded a new low.