Nifty Likely to Open on a Positive Note Amid Mixed Cues on Wednesday

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Nifty Likely to Open on a Positive Note Amid Mixed Cues on Wednesday

By Malvika Gurung

Investing.com -- The Indian equity indices, BSE Sensex 30 and Nifty50 are expected to open at a positive note on Wednesday, as the Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator of how the market would perform, was found trading 0.20% higher to 17,956.50 at 8:10 am.

D-Street could not keep up with the gains on Tuesday’s session, a day after rebounding, post three consecutive choppy sessions, as gains driven by automobile and financial shares were offset by losses recorded in metal and oil and gas stocks. Sensex closed at 0.18%, or 109.40 points lower at 60,029.06, while Nifty closed 0.23%, or 40.7 points lower at 17,888.95.

Benchmarks for Asian markets opened at a mixed note on Wednesday, despite the Wall Street closing yesterday’s session on highs, as investors await the US Federal Reserve’s two-day long meeting, ending on Wednesday, which could set the tone for risk appetite seeping into the following year. Additionally, a Bank of England meeting is scheduled for the ongoing week.

Asia-Pacific stocks outside Japan (MSCI'S broadest index) declined in early trade on Wednesday’s session, 0.29% lower at 643.51, while Japan’s Nikkei 225 fell marginally by 0.43% to 29,520.90, while drafting this report.

China’s SSE (LON: SSE ) Composite Index was down 0.12%, while South Korea’s KOSPI 50 by 1.25% at 8:20 am. 

Wall Street ended higher on Tuesday, driven by a strong earnings season continuing to lift investors’ sentiment. The three main US indices, Dow Jones , S&P 500 , and Nasdaq Composite ended at gains of 0.39%, 0.37%, and 0.34% on Tuesday, respectively.

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