Indian markets are likely to open higher on Wednesday with the SGX Nifty trading 34 points higher at 10390.50 on Singapore Exchange. Domestic shares will take positive cues from the other Asian markets, where equities scaled a fresh decade peak, thanks to surging markets in Europe and America. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.3 per cent to Tuesday's 1.3 per cent rise - marking its biggest gain in eight months. Hong Kong's Hang Seng index was up 35.5 per cent year-to-date while China's CSI 300 has returned 27.4 per cent so far in 2017. On Wall Street, the S&P 500 and Nasdaq advanced to record closing highs overnight, while the Dow set a new intra-day high.
The National Stock Exchange benchmark index, Nifty, had closed 28.15 points, or 0.27 per cent, higher at 10,326.90 in the previous session, led by gains between 1 per cent and 2 per cent in energy, pharma & healthcare and consumer durables shares. Dr Reddy's, Sun Pharma and Tech Mahindra were the top gainers on the 50-scrip Nifty, adding between 4 per cent and 5.3 per cent. Index heavyweight Reliance Industries gained 1.27 per cent to settle at Rs 932.55.
The BSE Sensex had closed 118.45 points, or 0.35 per cent, higher at 33,478.35. With Tuesday's session, the Sensex continued its winning spree for a fourth straight session. The BSE benchmark index posted its highest closing since November 6, when it had closed at 33,731.19. The Sensex had risen 599.46 points in the previous three sessions.