Pre Market

Nifty seen opening higher; may reclaim 8100 levels

     The 50-share Nifty index is expected to open higher on Wednesday following positive trend seen in other Asian markets. Benchmark indices extended gains for the fourth straight session on Tuesday and rallied more than half a percent in the end. 
     At 07:30 a.m., Nifty India stock futures in Singapore were trading 4.50 points lower at 8,130 indicating flat-to-positive opening on the domestic market 
     In the US, markets closed mixed with the S&P 500 holding above 2,000 after rising to another intraday record, as energy companies dropped along with the price of oil and investors fretted whether the European Central Bank would make further monetary policy moves this week.Asian shares were trading higher 
     Brent crude slipped to a 16-month low, falling 2.5 percent to just above USD 100 per barrel while US crude hit a 7-month low. With the dollar index at a 14-month high, a strong dollar and the prospect of slowing oil demand were seen as the key reasons for the fall. Gold too was at its lowest level since mid-July, breaking through key support as the dollar hit a one-year high against the euro.
     the bull run continued on Dalal Street with the rally pushing benchmark indices further into unchartered territory. Nifty managed to conquer the 8100 mark on an intraday basis yesterday and looks all set to make a higher high today.