Economic data points from the American, European, and Chinese economies will be the key driving forces for the markets on Wednesday.
In early trading, Asian markets will react to the US inflation data for August, released overnight. The focus will later shift to China and Euro Zone's industrial production data for August and July, respectively.
Back home, stock-specific triggers, Covid-19 trends, and foreign fund flows will be additional triggers for D-Street.
Essel Group stocks will continue to be on investor radar on Wednesday after the Group's Annual General Meeting held yesterday.
Shares of Zee Entertainment had soared 40% on the BSE on Tuesday after Invesco Developing Markets Fund and OFI Global China Fund Llc, which own a combined 17.9 per cent stake in the company, called for an extra-ordinary shareholders' meet to remove Punit Goenka as director.
Other Group stocks such as Zee Learn and Zee Media, meanwhile, surged 19% and 5%, respectively.
Going forward, analysts expect three scenarios playing out for the Group. First, shareholders may approve Change in Board followed by a change in management. This scenario assumes the appointment of a new CEO by the new Board. Second, the new Board may continue with the existing management, i.e with Punit Goenka as MD & CEO, but seek better cash generation and tighter control on capital allocation. Lastly, shareholders may churn and a new set of investors/shareholders could back Punit Goenka as MD & CEO.
That apart, shares of Zomato and Srei Infra will also hog the limelight amid rejig in top brass.
Lastly, primary market investors will eye traction in Sansera Engineering's IPO. The three-day initial share sale was subscribed about 50% on day 1.
At the index level, the flagship Sensex ended Tuesday's session 69 points higher at 58,247. Meanwhile, Nifty50 closed the day at 17,380, up 25 points.