The Indian markets are expected to open positive on the back of positive global cues.

State-run ONGC will launch on Thursday, 1 March 2012 a share sale through an auction that aims to raise at least $2.5 billion. The offering will close on the same day. The government will sell 5% of its holding, or about 42.8 crore shares, in the offering and the floor price for the issue has been set at Rs 290 a share.

Key benchmark indices edged higher on Tuesday, 28 February 2012 on bargain hunting after the market lost over 5% in the preceding four sessions. The BSE Sensex rose 285.37 points or 1.64% to 17,731.12, its highest closing level since 24 February 2012.