The Indian markets may open higher on the back of positive Asian cues and the the SGX Nifty is up 21 points at 5,448. After the the markets closed at an eight week low yesterday there may be some bargain hunting winessed in today's trade.Prakash Gaba, a Mumbai based tecnical analyst opines,"Technically the market is still weak but is capable of bouncing back and if not 5348 would be the next logical target."
On the macro front, the weekly inflation data will be out which may cause some intra-day volatility. Two major companies namely Larsen & Toubro and Tata Power Company will be posting its quartrly results today.
Among the international market, Asian stocks rose a second straight day, after the U.S. Federal Reserve signaled interest rates will remain low and metal prices advanced on bets Chinese demand will escalate, boosting confidence in a global economic recovery. U.S. stocks snapped a three-day losing streak Wednesday as the Federal Reserve's minutes showed the central bank officials are in no hurry to tighten monetary policy.