The Nifty 50 index, National Stock Exchange's benchmark index, is seen opening above its important psychological level of 16650 as indicated by Nifty futures traded on Singapore Exchange.
Nifty futures on Singapore Exchange also known as SGX Nifty futures rose 47 points to 16,666.50.
Meanwhile, Asian shares held onto their recent gains on Wednesday after last week's fall, as global equities rebounded thanks to a combination of positive COVID-19 vaccine news and easing worries over tapering of Federal Reserve stimulus.MSCI's broadest index of Asia-Pacific shares outside Japan was last off slightly, but still up 3.7 per cent so far this week.
The index fell to its lowest in 2021 at the end of the previous week.Japan's Nikkei were flat.
A Reuters poll of analysts and fund managers showed Japanese shares are expected to recover from their eight-month low marked on Friday to near a 30-year high by the end of this year.Overnight, the Dow Jones Industrial Average rose 0.09 per cent to 35,366.26, the S-P 500 gained 0.15 per cent to 4,486.23 and the Nasdaq Composite added 0.52 per cent, to 15,019.80.Back home, foreign institutional investors sold shares worth Rs 1,644.91 crore on Tuesday while domestic institutional investors bought shares worth Rs 2,380 crore.Wipro will be in focus after the company informed exchanges that it was awarded a strategic multi-year contract to partner with E.ON for their digital transformation journey in the financial area.