The Nifty had its worst 3-day fall on Tuesday as weak overnight cues and the Dow Jones one-off saw foreign investors sell aggressively as markets ignored improving macro like low oil & inflation.
Banks were the main culprits as fresh selling in large-cap banks saw the fall. IT and cement were the main gainers along with consumer stocks as Asian Paints led the gainers.
For today markets reopen after the Wednesday holiday with a short covering on banks and cyclical to lead the morning gains.
US Market: US stocks strike back with 800 points rally in 2 days as Dow Jones reclaims 34800 with Nasdaq jumping over 200 points.
Bond yields bounce back from lows of 1.15 to 1.29% as markets turn fear into opportunity with IBM, Caterpillar seeing big buying after superb results.
Oil prices also see a bounce back as demand and expected growth see buying from 3-month lows.
Asian Market: Asian markets opened with gains as the Japanese 'Nikkei' was closed for a holiday while the South Korean 'Kospi' led the gainers along with the Australian markets.
US$ also saw weakness after hitting 93 which saw more interest in Asian stocks with banks and auto leading the gainers.
Chinese stocks will again be in the limelight as digital and technology stocks see buying given the sharp fall over the last month.