At 7:30 am, the Nifty futures were trading higher by 0.4 per cent on Singapore Stock Exchange.The domestic stock markets are likely to open in the green, in line with the positive sentiment across the US and Asian Street, and strength in SGX Nifty in early trading.
Trends on SGX Nifty indicate a positive opening for the index in India, with a 40-points gain.
At 7:30 am, the Nifty futures were trading at 11,947, higher by 40 points or 0.4 per cent on the Singapore Stock Exchange.Asian stocks were set for modest gains on Wednesday after renewed United States stimulus hopes helped Wall Street higher, although wobbles in the tech sector could keep a lid on investor sentiment.Australian stocks opened slightly higher while MSCI's gauge of stocks across the globe was roughly flat.
The Nikkei 225 futures were up 0.25 per cent.
Hong Kong's Hang Seng index futures were up 0.24 per cent.Wall Street shares closed higher Tuesday on growing optimism that United States lawmakers are nearing a deal on a stimulus package aimed at cushioning the economic shock from the coronavirus pandemic.The Dow Jones Industrial Average closed up 0.4 per cent, the S-P 500 ended 0.47 per cent higher and the Nasdaq Composite closed up 0.33 per cent.Meanwhile, oil prices fell on Wednesday after a surprise climb in United States crude stockpiles added to concerns about a global supply glut as a spike in global COVID-19 cases fuels demand fears and production returns in Libya.Brent crude futures for December delivery were at $42.94 a barrel, down 22 cents, or 0.5 per cent, as of 0035 GMT, while December United States West Texas Intermediate (WTI) crude futures slipped 23 cents, or 0.7 per cent, to $41.47 a barrel.On the corporate earnings front, Bajaj Finance, Bajaj Finserv, UltraTech Cement, Chennai Petroleum Corporation, Colgate-Palmolive will announce their quarterly numbers during the day.The S-P BSE Sensex and NSE Nifty 50 indexes gained for third session in a row on Tuesday as a slowdown in daily coronavirus cases raised hopes that the government will further ease restrictions.
The BSE Sensex had ended 113 points or 0.28 per cent higher at 40,544 and NSE Nifty had advanced 24 points or 0.2 per cent to close at 11,897.