Key Indices are poised to open higher on Wednesday, tracking firm cues from fellow Asian peers as investors remained focused to President-elect Donald Trump's first news conference later in the day. SGX Nifty is trading 37.50 points higher.
Investors would also react to the World Bank projection of GDP growth to 7% for FY17 from 7.6% estimated earlierIndian shares rose on Tuesday with Tata Motors surging after unit Jaguar Land Rover reported strong sales for 2016 and as recent underperformers recovered, although broader sentiment was cautious ahead of corporate results. The S&P BSE Sensex and CNX Nifty rose 0.65%-0.64% each.
Asian shares stood near two-month highs on Wednesday as investors looked to President-elect Donald Trump's news conference later in the day for any clues to his policies on tax, fiscal spending, international trade and currencies.
In the overnight trade, Wall Street ended mixed, with the Nasdaq Composite hitting record high, as traders booked some profit ahead of the President-elect Donald Trump's first news conference later today who promised of increased infrastructure spending and tax cuts
Key data to watch in US today is EIA Petroleum Status Report.
Major Headlines of the day:
BEL to consider sub-division of equity shares on Jan 27
RIL invested Rs 1.25L cr in Guj in last 4 yrs: Mukesh
Hind rectifier board meet on Jan 15 for Right issue
Trend in FII flows: The FIIs were net buyers of Rs -21.20 in the cash segment on Tuesday while the DIIs were net sellers of Rs 253.36 as per the provisional figures.