SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 3 points at the opening bell.
The Union Budget for 2021-2022 will be presented on February 1 and President Ram Nath Kovind will address a joint sitting of both the Houses of Parliament on January 29.
Global markets:
Overseas, Asian stocks are trading mixed on Wednesday as investors anxiously awaited results of U.S. runoff elections that would determine the legislative balance of power in the world's largest economy.
A private survey showed services sector activity in China expanding at a slower pace in December, with the Caixin/Markit services Purchasing Managers' Index coming in at 56.3. That compared against November's reading of 57.8.
US stocks ended higher on Tuesday in choppy trading, ahead of the outcome of the Senate runoff elections in the battleground state of Georgia, which will determine the balance of power in Washington.
Investors also looked ahead to two key elections in Georgia, which will determine whether Republicans can hold on to control in the Senate. Many fear that increased tax rates and more progressive policies could weigh on the market if Democrats gain control of the Senate. However, such an outcome could create an opportunity for a bigger and faster spending package.
In U.S. economic data, the Institute for Supply Management said its manufacturing index rose to 60.7 in December — its highest level since August 2018 — from 57.5 in November.
Domestic markets:
Back home, domestic indices ended with modest gains on Tuesday, led by strength in IT, banks and financial shares. The barometer index, the S&P BSE Sensex, gained 260.98 points or 0.54% to 48,437.78. The Nifty 50 index added 66.60 points or 0.47% to 14,199.50.
Foreign portfolio investors (FPIs) bought shares worth Rs 986.30 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 490.03 crore in the Indian equity market on 5 January, provisional data showed.
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