On Wednesday, we did have the frontline indices consolidate and the midcaps outperform. But, the Nifty still posted a record close and the midcap index was also at a record close in Wednesday’s trading session.

The momentum was intact because we had 52.8 percent of the stocks which advanced in yesterday's trading session.

India's market capitalisation hit a record high crossing Rs 300 lakh crore for the first time ever.Foreign institutional investors (FIIs) continued to pump in money and they bought around Rs 1,603 crore in yesterday's trading session.

In terms of the global markets, the FOMC minutes pointed to a rate hikes at a slower pace. The US markets which closed marginally lower, Asia which is weak and the GIFT Nifty which is indicating a marginally lower start as well.

Brent crude did see a marginally up move. Brent and crude are trading around $76 per barrel

Other things to watch out for include the financials, where the Wednesday’s fall was led by the weakness in the HDFC twins post the Q1 updated of the merged entity. However, we did have the Nifty PSU bank index which outperformed and was up around 1 percent on Wednesday.

Do watch out for continued gains in the broader markets. On Wednesday, 65 percent of the stocks advanced in the BSE 400 mid and small cap index in Wednesday's trading session.

It is also the Nifty 50 weekly options expiry today.

Tune in to Marketbuzz Podcast for more cues and news to track ahead of today’s session

Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!