Global cues positive; Nifty likely to open in green

The Indian equity markets are expected to open in the green today with the SGX Nifty trading at 8597.50, up 11.50 points at 7:20am. The market is on course to hit new highs as it is less than 100 points away from all-time high of 8,627.

Global cues, meanwhile are positive with the Asian market treading mixed in early morning trade as investors await data from China for further trading cues. China's Q4 GDP was expected to grow by 7.2 percent but came in at 7.3 percent.

European equities closed largely higher on Monday, as investors look ahead to Thursday's European Central Bank (ECB) meeting.

In other asset classes, the euro struggled around 11-year lows as investors braced for a crucial meeting later in the week which could see the European Central Bank take its boldest steps to revive the euro zone's economy.

In commodities, Nymex Crude prices hold below USD 48 dollars per barrel and gold prices were steady above USD 1270 an ounce as prices supported by wider market volatility that boosted the metal's appeal as a haven from risk.

In earnings corner, Kotak Mahindra Bank will be reporting its Q3 numbers. The bank’s net interest income (NII) is expected to rise over 18 percent to Rs 1083 crore while profits may jump 29 percent on a standalone basis. The bank’s asset quality may continue being benign.

In other corporate action, in what seems like a setback for Adani Group's plan to buy Lanco Power's Rs 6,000 crore rupee Udupi Power Plant. The Delhi High Court has refused to restrain Lanco from seeking new buyers, this after both parties failed to close the deal by December deadline.