Markets may open with a gap-up following positive global cues

The Indian stock markets are set to witness a gap-up opening of over one per cent on Wednesday on the back of positive cues from Asian peers and strong close on the Wall Street overnight. The SGX Nifty is trading above 10,700 mark and indicates that Nifty could open higher by 117 points. Index bellwether Reliance Industries will declare its results today.  
  
Asian stock markets gained in early trading on Wednesday following a strong bounce-back seen on Wall Street overnight on the back of robust economic data and stronger-than-expected Q3 earnings report. The Japanese market Nikkei 225 has soared 1.56 per cent and China’s Shanghai Composite has added 0.32 per cent. Hong Kong’s Hang Seng is closed for public holiday.  
  
Back home, the key benchmark indices extended their northward movement for the third straight day in a row on Tuesday with BSE Sensex surging 297 points to close at 35,162 and the Nifty jumping 72 points to finish at 10,585. The broader markets continued their outperformance with Nifty Mid-cap and Small-cap ending with gains of 1.55 and 2 per cent, respectively. All the sectoral indices ended in the green with Nifty PSU Bank, Nifty Realty and Nifty Private Bank being the top performers.  
  
The US stocks closed higher on Tuesday on the back of robust economic data and upbeat earnings. In economic news, industrial production came in above forecasts, homebuilder sentiment surprised to the upside and job growth hit another record high. Several big names such as Goldman Sachs and Morgan Stanley along with Johnson & Johnson reported better-than-expected quarterly results. In the end, the Dow Jones Industrial Average jumped 547 points, the S&P 500 surged 59 points and the tech-heavy Nasdaq Composite Index soared 215 points.  
  
The European equities ended Tuesday's session firmly in the positive territory after the Italian government reached an agreement on a budget accord that will go to European Commission for a review. The DAX of Germany closed the session with a gain of 1.40 per cent, the CAC of France climbed 1.53 per cent and the UK’s FTSE 100 advanced 0.43 per cent.