SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 42 points at the opening bell.
Global markets:
Overseas, Asian stocks are trading higher on Wednesday after U.S. shares closed at a record on economic optimism and signs that vaccines can counter a highly infectious coronavirus strain.
China's official manufacturing Purchasing Manager's Index (PMI) grew at a slower clip in June. The reading eased to 50.9 in June from 51 in May.
Japan's industrial output posted the biggest monthly drop in a year in May. Factory output slumped 5.9% in May from the previous month, official data showed on Wednesday, hit by declines in the manufacturing of cars and production machinery to post its largest monthly drop since May last year.
The S&P 500 and Nasdaq 100 edged higher to close at new records on Tuesday, continuing their four-day win streak even as investors grow anxious about the increased spread of the Delta variant of COVID-19.
Meanwhile, Moderna said Tuesday its Covid-19 vaccine showed promise in a lab setting against coronavirus variants, including the highly contagious delta variant first identified in India. Moderna said its vaccine was authorized for use in India, where the delta variant is thought to be behind the large outbreak there.
Domestic markets:
Back home, the key equity indices ended with modest losses on Tuesday. The barometer index, the S&P BSE Sensex, fell 185.93 points or 0.35% to 52,549.66. The Nifty 50 index lost 66.25 points or 0.42% to 15,748.45.
Foreign portfolio investors (FPIs) bought shares worth Rs 116.63 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,810.05 crore in the Indian equity market on 29 June, provisional data showed.
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