Global factors such as developments in US-China trade negotiations, Chinese industrial output and retail sales data and crude oil price movement are expected to drive markets on Wednesday. On the domestic front, corporate earnings for the March quarter will continue to be on the investors' radar.
Benchmark indices snapped their nine-day losing streak on Tuesday to settle higher. The S&P BSE Sensex ended the day 228 points higher at 37,319 while the broader Nifty50 index finished 74 points higher at 11,222.
Rupee closed eight paise higher at Rs 70.44 per dollar against Monday’s close of Rs 70.52.
Over 80 companies including Central Bank of India, Jubilant FoodWorks, Lupin, and Vivanta Industries are scheduled to announce their Q4FY19 results today.
Asian stocks wobbled around three-and-a-half-month low on Wednesday after US President Donald Trump insisted on Tuesday that trade talks with China had not collapsed.
MSCI’s broadest index of Asia-Pacific shares outside Japan edged down 0.05 per cent with South Korea’s KOSPI slipping 0.1 per cent and Japan’s Nikkei shedding 0.4 per cent.
On Wall Street, indices closed at a one-month-high during the overnight trade on Tuesday, rallying close to a per cent each. The Dow Jones Industrial Average ended 207 points higher at 25,532 while the S&P500 closed 23 points up at 2,834 levels. The Nasdaq gained 87 points to end at 7,734 levels.
In commodities, Brent crude futures were trading at $71.05 a barrel, down 0.27 per cent from their previous close, during the early morning trade on Wednesday.