The domestic stock markets are likely to open on a flat note, after surging for ten sessions in a row, going by early indications from SGX Nifty trading. Trends on SGX Nifty indicate a flat start for the broader index in India, with a loss of 11 points. At 7:30 am, the Nifty futures were trading at 14,216, lower by 11 points on the Singapore Stock Exchange.
Asian stocks were 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 while oil prices rose on news of planned output cuts.
Shares on Wall Street ended higher on Tuesday in choppy trading, as investors took advantage of the previous session’s slump to buy them back, ahead of the outcome of the Senate runoff elections in the battleground state of Georgia, which will determine the balance of power in Washington.
The Dow Jones Industrial Average closed up 167.71 points, or 0.55%, to 30,391.6, the S&P 500 gained 26.21 points, or 0.71 per cent, to 3,726.86 and the Nasdaq Composite added 120.51 points, or 0.95%, to 12,818.96.
On Tuesday, the Sensex advanced 261 points to close at record high of 48,437.78 and Nifty 50 index climbed 67 points to close at an all-time high of 14,200.