Stocks likely to open higher

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 55 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Wednesday after major indexes on Wall Street snapped their multi-day winning streaks overnight.

In US, stocks slipped on Tuesday after reaching fresh all-time highs as traders weighed the possibility of even more fiscal stimulus being approved by Congress. All three of the major averages hit record highs at the open.

Domestic markets:

Back home, domestic equity benchmarks settled with decent gains on Tuesday, extending their uptrend for the fifth trading session. Positive global cues and robust FII inflows supported buying. The barometer index, the S&P BSE Sensex, rose 259.33 points or 0.55% to 47,613.08. The Nifty 50 index added 59.40 points or 0.43% to 13,932.60.

Foreign portfolio investors (FPIs) bought shares worth Rs 2,349.53 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,010.50 crore in the Indian equity market on 29 December, provisional data showed.

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