New Delhi, 05 August (H.S.): Global markets are providing positive cues today as declining crude oil prices and a strong rally in U.S. semiconductor stocks boosted investor sentiment. U.S. markets ended the previous session with substantial gains, while Dow Jones futures continued to trade higher. European markets also maintained strong momentum in the previous session, and most Asian markets were trading in positive territory on Wednesday.

Supported by softer crude oil prices and robust buying in chip stocks, Wall Street indices closed sharply higher in the previous session. The S&P 500 surged 136.02 points, or 1.79 percent, to close at 7,736.52. The Nasdaq Composite jumped 671.10 points, or 2.59 percent, to end the session at 26,584.99. Meanwhile, Dow Jones futures were trading 253.37 points, or 0.47 percent, higher at 54,337.25.

European markets also witnessed broad-based gains during the previous session. The FTSE Index advanced 0.20 percent to close at 10,879.38. France's CAC 40 climbed 0.61 percent to finish at 8,666.63, while Germany's DAX gained 201.04 points, or 0.77 percent, to settle at 26,202.35.

Asian markets were largely trading higher on Wednesday. Of the major regional indices, eight were in positive territory, while two traded lower.

The Straits Times Index declined 0.43 percent to 5,588.30, while Thailand's SET Composite Index slipped 0.11 percent to 1,615.43.

On the positive side, GIFT Nifty was up 119.50 points, or 0.49 percent, at 24,699. Indonesia's Jakarta Composite Index gained 0.41 percent to 6,345.61.

South Korea's Kospi posted the strongest gains among major Asian markets, soaring 275.64 points, or 4.33 percent, to 6,634.59.

Japan's Nikkei Index also witnessed a sharp rally, rising 2,039.47 points, or 3.19 percent, to 65,997. Taiwan's Weighted Index climbed 1,343.15 points, or 3.10 percent, to 44,703.81.

Meanwhile, China's Shanghai Composite Index was trading 1.34 percent higher at 3,873.56, while Hong Kong's Hang Seng Index edged up 0.20 percent to 25,905.

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Hindusthan Samachar / Jun Sarkar