Sensex opens higher, Nifty above 9,100; Rupee highest since Oct 28, 2015

The benchmark indices on Wednesday opened higher a day ahead of the expiry of March derivatives contracts as Asian markets inched up tracking positive closing on Wall Street after US consumer confidence improved unexpectedly. At 09:17 am, the S&P BSE Sensex was trading at 29,478, up 69 points, while the broader Nifty50 was ruling at 9,123, up 23 points. In the broader market, the S&P BSE Midcap gained 0.3%, while the S&P BSE Smallcap added 0.4%. "Yesterday’s positivity could push prices further higher earlier in the day, but a range expansion is less likely. Ideally, the 9170 region might offer some resistance, but major falls are less expected. Push above 9200, on the other hand, could suggest that the measured objectives of 9350-9500 is in play again. Meanwhile, rupee appreciated above 65-mark against US dollar for the first time since October 28, 2015. On Tuesday, foreign institutional investors bought equities worth Rs 6,415 crore, while domestic institutional investors were net buyers to the tune of Rs 356 crore. Commodity Trading Tips

March expiry due tomorrow

On Tuesday, two-day ahead of the March F&O expiry, marketwide rollovers came in at 43%, which were higher than the average rollover of 42% seen during the comparable period of last three series. Nifty futures rollovers, meanwhile, stood at 46% on D-2, marginally higher as compared to the average rollover of 41% seen in last three series.  Nifty Trading Tips

Consumer confidence grows

US consumer confidence surged to a more than 16-year high in March amid growing labor market optimism, while the trade deficit in goods narrowed sharply in February. The economy's strengthening fundamentals were bolstered by other data showing further increases in house prices in January. Future & Option Trading Tips

Dollar bounces from four-month low

The dollar bounced from 4-month lows as Federal Reserve Vice Chairman Stanley Fischer, one of the more influential policy makers with markets, said two more rate increases this year seem "about right". Financial Astrology Tips