Indian shares looked set for a strong start on Wednesday, in line with gradual recovery seen in Asian equities and upbeat second-quarter earnings report by software major Infosys.
At 06.52 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, was up 1.06 percent to 10,697, indicating a positive opening for the Indian market today.
Here is what you need to know before the market opens:
Asia: Japan's Nikkei leaped out of the gates with an early rise of 1.3 percent, but still has a long way to go to recoup the past week's losses. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.5 percent and South Korea 1.5 percent.
US: The Dow Jones Industrial Average rose 547.87 points, or 2.17 percent, to 25,798.42, the S&P 500 gained 59.13 points, or 2.15 percent, to 2,809.92 and the Nasdaq Composite added 214.75 points, or 2.89 percent, to 7,645.49.
Crude oil prices: US West Texas Intermediate crude was up 35 cents, or 0.5 percent, at $72.27 a barrel by 0007 GMT on Wednesday, having settled up 14 cents. Brent crude was up 36 cents, or 0.4 percent, at $81.77 a barrel, after settling up 63 cents the session before.
Market at close on Tuesday: Indian shares rose for the third consecutive session on Tuesday amid positive global cues. Investors were also upbeat as the corporate earnings season unfolds. The Sensex closed up 0.85 percent at 35,162.48, while the Nifty ended 0.69 percent higher at 10,584.75. Both indexes closed at highest levels since October 4.
Rupee: The Indian rupee closed at 73.46 against the US dollar on Tuesday, down 37 paise from its Monday close of 73.83.
Dollar: The dollar itself was up on the yen at 112.31 but flat on the euro at $1.1578. Against a basket of currencies, the dollar idled at 95.080 having touched a two-week trough overnight.
FII & DII data: Foreign institutional investors (FIIs) sold shares worth Rs 1,166 crore while domestic institutional investors (DIIs) bought shares worth Rs 1,059 crore in the Indian equity market on October 16.
Ayushman Bharat: Prime Minister Narendra Modi's ambitious healthcare scheme will create 10 lakh jobs in the health and insurance sector, an official said on Tuesday. The scheme is going to improve the quality of healthcare in public services and also in the private sector, Indu Bhushan, the CEO of Pradhan Mantri Jan Arogya Yojana (Ayushman Bharat) said while addressing an event organised by industry body Assocham.
Global Trade and India: India will be the worst sufferer if international trade declines, Union Commerce and Industry Minister Suresh Prabhu said on Tuesday, as the US ratchets up tariff war and embarks on protectionism. "India is the worst sufferer if the world trade does not grow, because we have a huge stake, our share in global trade is increasing," Prabhu said at an industry-body event.
Arun Jaitley at Assocham: India needs strong and decisive leadership at the Centre to promote growth, get rid of poverty and transform the country into a developed nation, Finance Minister Arun Jaitley said Tuesday. With general elections due early next year, Jaitley said the country does not need an 'unstable coalition' government and individuals who lack understanding of policies at the helm.
(With inputs from agencies)