The domestic stock markets are likely to open in the green, extending the gains witnessed in the previous session, in line with positive global cues. Trends on SGX Nifty indicate a positive opening for the index in India, with a 38-point gain. At 7:30 am, the Nifty futures were trading at 13,453, higher by 38 points or 0.28 per cent on the Singapore Stock Exchange.
Asian markets were set to rise Wednesday as investors tracked positive news on COVID-19 vaccines and ongoing efforts to launch more fiscal stimulus.
Australian S&P/ASX 200 futures were up 0.57 per cent in early trading and Hong Kong's Hang Seng index futures were up 0.42 per cent. On the other hand, Japan's Nikkei 225 were down 0.02 per cent.
U.S. stocks closed higher on Tuesday, with the S&P and Nasdaq setting record highs, in part due to a boost from the healthcare sector on positive COVID-19 vaccine news, while uncertainty over fresh fiscal stimulus held gains in check.
The Dow Jones rose 0.35 per cent, the S&P 500 gained 0.28 per cent and Nasdaq Composite added 0.5 per cent.
Meanwhile, oil prices were little changed on Tuesday as the most populous U.S. state tightened its pandemic lockdown through Christmas and COVID-19 cases surged in the United States and Europe, counteracting optimism that arose over vaccine advancements.
Brent crude futures settled at $48.84 a barrel, gaining 5 cents. U.S. West Texas Intermediate (WTI) crude futures settled 16 cents lower at $45.60 a barrel.
On Tuesday, the Sensex had closed 182 points, or 0.40 per cent, higher at 45,608.51 and Nifty had ended 37 points, or 0.28 per cent, higher at 13,392.95.
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