Indian stocks are poised for modest gains at the opening of Wednesday's trading session, despite mixed signals from global markets.
On Tuesday, the benchmark indices, Sensex and Nifty, closed with modest gains. This uptick followed a four-day losing streak, bolstered by data indicating that India's retail inflation fell to a four-month low in December.
The Indian rupee rebounded from a record low, appreciating by 8 paise to close at 86.62 against the U.S. dollar.
According to provisional data from the National Stock Exchange (NSE), foreign institutional investors (FIIs) offloaded stocks worth ₹8,132.26 crore on a net basis on Tuesday, whereas domestic institutional investors (DIIs) were net purchasers to the tune of ₹7,901.06 crore.
In terms of corporate earnings, companies such as HDFC Life Insurance Company, L&T Technology Services, and Bank of Maharashtra are among the leading firms scheduled to release their quarterly earnings results today.
This morning, Asian stock markets exhibited mixed performance, even amid reports suggesting that former President Donald Trump's incoming economic team might contemplate gradual implementation of tariffs.
The U.S. dollar stabilized after declining for the first time in six sessions, prompted by the tariff report.
Meanwhile, gold prices edged lower amid cautious market activity, and oil prices remained subdued as investors focused on upcoming U.S. Consumer Price Index data and quarterly earnings reports from major U.S. banks.
In the United States, stock indices exhibited fluctuations before ending the session with narrow mixed results. Data revealed that producer prices increased slightly less than anticipated in December, briefly alleviating investor concerns over inflation and interest rate hikes.
The Dow Jones Industrial Average gained 0.5 percent, the S&P 500 rose by 0.1 percent, while the tech-centric Nasdaq Composite recorded a slight decline of 0.2 percent.
In Europe, stocks relinquished early gains to close with mixed results on Tuesday, weighed down by EU political uncertainties and apprehensions regarding potential U.S. tariff policies under the Trump administration.
The pan-European STOXX 600 index concluded the day flat with a slight downward bias. Germany's DAX index climbed 0.7 percent, France's CAC 40 gained 0.2 percent, while the U.K.'s FTSE 100 slipped by 0.3 percent.
