The Indian market is set for a positive opening on Wednesday following the developments in US-China trade deal after White House economic adviser Larry Kudlow said a meeting between the two was an opportunity to "turn the page" on a trade war.
However, Asian investors remained jittery of the outcome as the markets falter and as of 07:10 AM, were trading mixed.
At 07:10 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, was up 0.17 percent at 10,709.50, indicating a positive opening for the Indian market.
Here is what you need to know before the market opens: Asia: MSCI's broadest index of Asia-Pacific shares outside Japan was last flat with Australian stocks the biggest drag. Japan's Nikkei gained 0.5 percent while South Korea's KOSPI index was a touch firmer. Wall Street: The Dow Jones Industrial Average rose 108.49 points, or 0.44 percent, to 24,748.73, the S&P 500 gained 8.75 points, or 0.33 percent, to 2,682.2 and the Nasdaq Composite added 0.85 point, or 0.01 percent, to 7,082.70. Crude Oil Prices: US West Texas Intermediate (WTI) crude futures were at $52.00 per barrel at 0027 GMT, up 44 cents, or 0.9 percent from their last settlement. International Brent crude oil futures had yet to trade. Despite Wednesday's rise, oil prices have still lost almost a third of their value since early October, weighed down by an emerging supply overhang and by widespread weakness in financial markets. Market At Close On Tuesday: The Indian equity market closed with gains on Tuesday, continuing its positive run in the derivatives expiry week, led by IT stocks such as Infosys and TCS. The Nifty gained 57 points to end the session at 10,686, while the Sensex edged higher by 159 points to close at 35,513, above its 20-day and 50-day moving averages. Rupee: The rupee closed at 70.76, up 11 paise against the dollar on Tuesday. Dollar: The dollar index, which measures the greenback against a basket of major currencies, jumped overnight to 97.363 to edge towards a 1-1/2 year top of 97.661 set earlier this month. FII & DII data: Foreign institutional investors (FIIs) bought shares worth Rs 811.5 crore, while domestic institutional investors (DIIs) bought shares worth Rs 31 crore in the Indian equity market on November 27. Narendra Modi At G20 Summit: Prime Minister Narendra Modi will be in Argentina from November 28 to December 2 to participate in the G20 meeting in Buenos Aires during which he will also meet Chinese President Xi Jinping and leaders of other participating nations, the Ministry of External Affairs said on Tuesday. Modi will also highlight the risks posed by oil price volatility and raise the issue of combating terror financing and money laundering, foreign secretary Vijay Gokhale said. Ayushman Bharat: Finance Minister Arun Jaitley said on Tuesday as many as 3 lakh poor people have benefited from Ayushman Bharat health scheme in the last one-and-a-half months. "We are now close to about 3 lakh people in the last month and a half you have already benefited from hospitalisation under Ayushman Bharat and these are people belonging to the 10 crore poorest families in India," Jaitley said. RBI On Indian Economy: The Reserve Bank of India (RBI) on Tuesday said the credit growth to the real economy has shown healthy growth this year, especially in the last few months. “The adjusted non-food bank credit (ANBC), which gives the flow of financial resources from the scheduled commercial banks to the commercial sector, touched 15.9 percent during the fortnight ended October 26, 2018 (year-on-year) and sustained the healthy growth at 15.6 percent during the fortnight ended November 9, 2018,” RBI said in a statement.
(With inputs from agencies)
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