Equity benchmark indices are looking to open higher on Wednesday with the Street awaiting the Reserve Bank of India's (RBI) policy outcome. At 7:30 am, the SGX Nifty futures were quoting around 70 points higher near 17,800 level.
The RBI is widely expected to raise rates by a modest 25 basis points following a gradual decline in the CPI imprint for November and December to below 6 per cent. Some experts believe the bank may halt the rate hike cycle after today's increase.
Globally, US equity benchmark indices closed up to 2 per cent higher overnight after Fed chief Powell