Markets may extend gains on positive cues from global markets

Taking a positive cue from global markets, the key domestic benchmark indices are likely to extend gains on Tuesday. The SGX Nifty, which was trading at 10,055, suggests that the Nifty could gain around 30 points at the opening bell.
 
Finally, the Nifty50 index managed to pierce its strong resistance of 9,980-10,000 on a closing basis. Now, going forward, buying momentum is likely to continue. On the upside, the levels of 10,060 and 10,080 may act as resistance zones, whereas on the downside, the levels of 9,970-9,980 may act as an immediate support zone.
 
Back home, Indian market ended the trading session on Monday with robust gains owing to positive global peers. The Nifty settled above the magical five figure mark of 10,000 and the BSE Sensex surged 195 points to finish at 31,882. IndusInd Bank and Bharat Financial Inclusion rose 5.6% and 3.5%, respectively.
 
The US stock market indexes closed sharply higher on Monday, with the benchmark S&P 500 ending the session at an all-time high. The strength on Wall Street was seen as the impact of Hurricane Irma was not as severe as many had projected.  The Dow Jones Industrial Average surged 260 points to close above the important psychological 22,000-mark. The Nasdaq Composite Index rose 72 points to finish at 6,432 and the S&P 500 rallied 27 points to close at 2,488.  
 
Asian markets' benchmarks were mostly higher in early trade on Tuesday following gains on Wall Street. The Japan’s Nikkei 225 has gained 0.99%, whereas Hong Kong's Hang Seng and China’s Shanghai Composite are trading flat.