Good chances of the markets going above 10,200 and touching the 11,000 mark, given the current rally.

Indian markets are significantly linked to global cues. In the short-term, the upside in markets will be directed by global sentiments. However, Q3 corporate earnings will be weak. The advance tax numbers and drop in volumes of auto and cement industry indicate the likely sluggishness in toplines.

Taking cues from its global peers, the Indian markets started the day’s proceedings on a positive note. Another round of rate cuts and fiscal stimulus provided the extra punch. While stocks from the banking, realty and metal space are leading the pack of gainers, stocks from the FMCG space are out of favour.

Markets traded firm during the previous hour of trade. Stocks from the banking, construction, engineering and metal sectors are leading the pack of gainers. Select telecom, pharma, power and software stocks are facing selling pressure.