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Markets have started the trading session on a higher note tracking firm global cues. Recovery in rupee value has further cheered the sentiments among global investors.
The Sensex has opened higher by 350 points at 20,082 levels and the Nifty surged 104 points at 5,955 levels.
The Wholesale Price Index Inflation data schedule later today will be the trigger for our markets in terms of determining the policy stance of the central bank on September 20 mid-quarter review.
The outcome of the US Fed meeting, which is widely expected to taper its $85 billion a month bond-buying programme, wholesale price index inflation data and the RBI's monetary policy outlook will determine market direction this week.
The US dollar slid while bonds and shares rallied in Asia on Monday after Lawrence Summers dropped from the race to be head of the Federal Reserve, while progress on Syria also shored up risk appetite.
Investors wagered that US monetary policy would stay easier for longer should the other leading candidate for Fed chair, Janet Yellen, get the job.
