Sensex, Nifty may open higher
Singapore's economy grew 7.1% in the third quarter on a YoY basis. The growth came in was higher than an official advance estimate for 6.5%.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 44 points at the opening bell. Overseas, Asian stocks are trading mixed on Wednesday as investors monitor moves in U.S. Treasury yields. Singapore’s economy grew 7.1% in the third quarter as compared with a year ago, according to the Ministry of Trade and Industry. It was higher than an earlier official advance estimate for 6.5% year-on-year growth.
The Nasdaq Composite fell for the second consecutive day as higher interest rates appeared to put pressure on high-flying tech stocks.
U.S. markets will be closed for the Thanksgiving holiday on Thursday. The stock market closes early on Friday.
Domestic markets
Back home, domestic equity indices snapped a four-day losing streak and ended with decent gains on Tuesday. The barometer index, the S&P BSE Sensex, rose 198.44 points or 0.34% at 58,664.33. The Nifty 50 index gained 86.80 points or 0.50% at 17,503.35.
Foreign portfolio investors (FPIs) sold shares worth Rs 4,477.06 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,412.05 crore in the Indian equity market on 23 November, provisional data showed.