Domestic stock markets are expected to open in the green, continuing the gains seen over the past 12 trading sessions, according to early indications from SGX Nifty futures trading. Trends on SGX Nifty indicate a positive index opening in India, with a gain of 39 points. As of 7:30 am, Nifty futures were trading at 14,639, up 39 points or 0.27% on the Singapore Stock Exchange.
Asian stocks opened mostly higher on Wednesday, following modest gains on Wall Street, as prospects of a possible victory against the coronavirus raised hopes of a recovery, while tight supply expectations pushed oil prices at their highest level in a year.
Markets were mixed with Japan’s Nikkei 225 up 0.11%, Australia’s S & P / ASX 200 down 0.1% and South Korea’s KOSPI up 0.64%.
The benchmark S&P 500 closed just a little higher on Tuesday, as small company shares hit record highs as investors favored more economically sensitive market segments as they bet on a recovery in 2021.
Overnight, the Dow Jones Industrial Average rose 60 points, or 0.19%, to 31,068.69, the S&P 500 gained 1.58 points, or 0.04%, to 3,801.19 and the Nasdaq Composite added 36.00 points, or 0.28%, to 13,072.43.
Economically, retail inflation fell sharply to 4.59% in December, mainly due to falling food prices, according to data released Tuesday by the Department of Statistics and Implementation of the United Nations. after-hours programs. Retail inflation based on the Consumer Price Index (CPI) was 6.93% in November.
Food inflation fell to 3.41% in December in 2020, from 9.5% the previous month.
Meanwhile, the industrial production index (IIP) contracted 1.9% in November 2020. The country’s industrial production had increased 3.6% in October.
On the earnings front, Infosys, Wipro and CESC will be among the big companies to announce their numbers during the day.
On Tuesday, the BSE Sensex climbed 247.79 points to 49,517.11 and Nifty broke the 14,500 mark to close at 14,563.50, up 78.70 points.