Nifty to open gap-up after ECB hints at more QE

Moneycontrol BureauIndian shares are likely to track gains in Asian markets, and from Europe and US yesterday, after European Central Bank chief Mario Draghi held key rates and hinted at a fresh stimulus package.In Singapore trading, the SGX Nifty is trading 1.1 percent, or 91 points, higher to 8,337.Traders say the market will cross 8,300 at open but may encounter resistance near the 8,380 mark, where the 200 day moving average is perched.Earnings will continue to be in focus, with notable companies such as Asian Paints slated to post quarterly results.In other asset classes, the US dollar rose, particularly against the euro, following Draghi's speech, crude held steady while gold fell.