Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 19 points at the opening bell.
Overseas, Asian stocks are trading mostly lower on Wednesday after U.S. President Donald Trump's comments regarding the country's surge in novel coronavirus cases.
Japan's factory activity contracted for a 15th straight month in July. The au Jibun Bank Flash Japan Manufacturing Purchasing Managers' Index (PMI) rose to a seasonally adjusted 42.6 from a final 40.1 in June, as broader conditions remained fragile though the pace of decline was the slowest in four months.
In US, U.S. stock-indexes finished mostly higher Tuesday as investors snapped up beaten-down energy and financial stocks amid a slate of corporate earnings reports, including Coca-Cola and Lockheed Martin's second-quarter results.
Market sentiment also was encouraged by the promise of additional U.S. fiscal stimulus, after the European Union forged a historic budget package intended to dampen the economic impact of the effects of the COVID-19 pandemic.
Investors were awaiting developments on another fiscal stimulus plan by Congress as a $600 per-week federal unemployment package is set to expire at the end of the month.
President Donald Trump warned Tuesday the coronavirus pandemic in the United States will probably get worse before it gets better.
Joe Biden, the presumptive Democratic presidential nominee, also unveiled an $775 billion plan to revive the economy during the pandemic, called the 21st Century Caregiving and Education Workforce, with a promise to bring 3 million new jobs to workers, while also helping fortify universal child and elder care in the U.S.
On the economic front, the Chicago Fed National Activity Index for June, a composite of 85 indicators, rose to a fresh record 4.11, marking a record high going back to 2000, from a 3.5 in May representing a level that was raised from the previous May reading.
Back home, key equity benchmarks ended with strong gains on Tuesday, rising for the fifth straight session. Global shares advanced as European Union (EU) leaders agreed on a 750 billion euros package aimed at funding post-pandemic relief efforts in the region. The barometer S&P BSE Sensex jumped 511.34 points or 1.37% at 37,930.33. The Nifty 50 index rose 140.05 points or 1.27% at 11,162.25. Both these indices jumped about 5.25% in five sessions.
Foreign portfolio investors (FPIs) bought shares worth Rs 2,265.88 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 727.39 crore in the Indian equity market on 21 July, provisional data showed.
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