The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 23,405 level, a premium of nearly 140 points from the Nifty futures’ previous close.

The market is expected to be under intense pressure with strong headwinds. Brent crude is above $81 per barrel, while sharper than expected surge in US jobs data coupled with consistent FIIs selling and Q3 earnings have taken a toll on the market.

The Indian equity market closed in the green on Tuesday amid favourable domestic and global cues, as Adani Enterprises was the top Nifty 50 gainer.

Nifty 50 outlook remains weak and the markets will consolidate in a range with stock specific action on the back of Q3 result announcements, analysts said.

The stock markets started trading on Wednesday in the positive territory following a firm trend seen in the Asian indices. The BSE Sensex rallied a little over 400 points to cross 76,900 in early trade,

The gains were led by Reliance Industries Ltd, Maruti Suzuki India Ltd, Larsen & Toubro and Zomato Ltd. The BSE Sensex rose 248.07 points or 0.32 per cent to 76,747.70. Nifty stood at 23,231.40, up 55.