The equity benchmark indices Sensex and Nifty are likely to open on a positive note on Wednesday, with GIFT Nifty signalling gains. However, elevated crude oil prices could cap gains.
Investors will also closely track the launch of Jio Platforms' record IPO.
GIFT Nifty futures were at 23,012.5 at 8:30 a.m., indicating a positive start for the benchmark Nifty50, which closed at 22,888.95 on Monday. The markets were closed on Tuesday for a holiday.
Optimism over a US-India trade deal could also support risk sentiment. The India-US trade agreement could be finalised within weeks, with negotiations now down to technical details, US Secretary of State Marco Rubio said in an exclusive interview to Network18.
Jio Platforms Ltd’s initial public offering will open for public subscription today at 10 a.m. following strong demand from anchor investors. The company mobilised Rs 8,109.84 crore from 212 anchor investors.