After a weak opening, the markets picked up. At 10:50 am IST, the 30-share Sensex was at 16,075, up by 72 points and the 50 -share NSE Nifty was at 4,817, up by 16 points.

Yesterday, the domestic markets ended a volatile trading session on a positive note. The benchmarks snapped a three-day losing streak and surpassed the 16,000-mark despite weak global cues

Today, most of the Asian markets have opened in red on weak global cues from the European and US markets . At 7.40 am IST, the Nikkei 225 was down 40.39 points and was at 8511.72. The Hang Seng was down 18.63 points and was at 18423.89. The Shanghai composite was up 0.61 points and was at 2249.20.

The US markets closed in red yesterday as the market participants were left disappointed by the Federal Reserves' stand to leave the monetary policy unchanged and not to proceed with further quantitative easing.

Federal Reserve on Tuesday said that the US economy is improving as hiring and consumer spending has picked up in the region, so they decided to keep the further stimulus on hold.

Among the sectoral indices, BSE Consumer Durables, Power and Oil & Gas were trading lower by 1%.

BSE IT was marginally up by 10.58 points or 0.18%

The main attraction today is Organization of the Petroleum Exporting Countries (OPEC) meet scheduled today in Vienna, and Italian 5year bond sale which could decide the direction of the markets.