India’s Nifty and Sensex look to open in the green on Wednesday after the Tuesday turnaround.
Nifty and Sensex cheered the upswing in IT and auto sector stocks on Tuesday.
Wednesday’s US GDP revision eyed ahead of Thursday’s US PCE inflation, India’s Q3 GDP data.
The Sensex 30 and Nifty 50, India’s key benchmark indices, are set to open on the right side on Wednesday, having witnessed a Tuesday turnaround on the back of a rebound in IT and auto sector stocks.
Asian markets are looking to extend the previous recovery, led by gains in Chinese stocks. Gift Nifty futures rise 0.20% so far, suggesting the upbeat open on Nifty and Sensex.
Indian traders, however, remained jittery ahead of India’s third-quarter Gross Domestic Product (GDP) data and the expiry of monthly derivatives contracts due later this week. Also, of note remains the top-tier US economic news, including the second estimate of the GDP report on Wednesday.
On Tuesday, the National Stock Exchange (NSE) Nifty 50 and the Bombay Stock Exchange (BSE) Sensex 30 gained roughly 0.35% on the day to close at 22,193.80 and 73,066.91 respectively
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