India : Markets may open flat to positive as oil prices play havoc in global markets

The Indian benchmark indices on Tuesday got off to a soft start as the indices showed signs of consolidation in early trade. Sentiments improved and indices surged by around quarter per cent, post the Finance Minister,  Arun Jaitely expressing hope that GST will be implemented in 2017 and a digitised economy will be the future of India. However, at higher levels selling emerged and the Nifty ended higher by 0.16 per cent, to settle below the crucial 8,200 mark. While Bombay Stock Exchange’s sensitive Index-Sensex accumulated forty seven points and above near the psychological 26,600 mark. However, the broader markets succeeded to outperform their larger peers as the BSE’s midcap gained 0.61 per cent and smallcap index jumped 1.03 per cent.European markets finished in the mix on Tuesday. The FTSE 100 gained 0.49 per cent and the CAC 40 rose 0.35 per cent. The DAX lost 0.16 per cent.The U.S. stocks on Tuesday started the first trading day of 2017 on a positive note but closed off shedding intraday highs as oil prices turned sharply lower, puncturing some of the initial exuberance that underpinned an early rally in the Dow Jones Industrial Average. The Dow Jones rose 119.16 points to close at 19,881.76. The S&P 500 also finished at its best levels, adding 19 points to end at 2,257.83. The Nasdaq Composite Index climbed 45.97 points to close at 5,429.08.  Asian equity markets are trading in the mix with Japanese markets gaining close to 2 per cent in the first trading session of 2017. The Shanghai Composite is trading flat with gains of 1.42 points. The Hang Seng is trading in negative terrain with losses of 31.20 points.At 8:01 am, SGX Nifty Index has risen 0.15 per cent to 8,203, indicating a steady start for Indian equities.