Markets may rebound in opening trades following gains across Asia amid expectations that the policy makers in Europe may support the Europe financial system. The Nifty futures on the Singapore Exchange advanced 96 points, to 4,930.
US markets ended higher on Monday on expectations that European officials will find a solution to cut Greece's debt and may bolster the European banks. Overnight, the Dow Jones Industrial Average gained 2.5%, the Nasdaq Composite added 1.4% and the S&P 500 surged 2.3%.
In Asia, Japan Nikkei Stock Average advanced 2%, the Hang Seng added 3% and the Shanghai Composite gained 0.7%.
Back in India analysts expect recovery on cards in case Rupee soften which would trigger fresh buying. Ashish Chaturmohta, Vice President - Derivatives and Technical Analyst from IIFL Wealth said, "Nifty future holds 4750 levels as its immediate support at 4,750 and on the upside, 4960 acts as first resistance, sustaining above which some pullback towards 5050 levels can be seen."
While the global situation has improved, analysts said there may some amount volatility ahead of the F&O expiry on Thursday. India Infoline in the morning note said, "The markets will also have to deal with the latest political storm over the 2G scam with P Chidambaram offering to step down. Any adverse development on the political front might just unnerve the markets."
Foreign Institutional Investors continued to be net sellers in Indian equities, they sold Rs 1083 crore in the cash, while the domestic institutional investors were net buyers of Rs 575 crore.
Among the Indian ADRs listed on Nasdaq, ICICI Bank was the top gainer up 3%, followed by HDFC Bank and TCS, up almost 2% each.
