Indian shares are likely to open lower on Wednesday as investors react to the U.S. election results and mixed trade data for the month of October.
India's exports declined 5.4 percent in the month, but imports dropped 11.6 percent, helping narrow the trade deficit, according to the latest data released by the commerce department.
Meanwhile, the government will soon announce a slew of stimulus measures to boost the coronavirus-hit economy, Economic Affairs Secretary Tarun Bajaj said.
"It is difficult for me to commit a date but we have received a lot of requests and comments from various sectors and we are looking into it," he said.
Benchmark indexes Sensex and the Nifty jumped over 1 percent each on Tuesday amid a global rally, while the rupee rose by 2 paise to close at 74.40 against the U.S. dollar.
Asian markets are trading mixed this morning, Treasury yields dropped, oil gave up early gains and the dollar reversed early losses as the U.S. election result turned murky, with no clear winner in sight.
U.S. stocks posted strong gains overnight as investors hoped for a definitive outcome from the presidential election and that there would be a swift deal on more fiscal stimulus. Upbeat durable goods orders data also added to signs of economic recovery.
The Dow Jones Industrial Average climbed 2.1 percent, the tech-heavy Nasdaq Composite index surged 1.9 percent and the S&P 500 advanced 1.8 percent.
European markets also ended Tuesday's session on an upbeat note on hopes for a clear verdict in the U.S. election without the need for lawsuits and recounts.
The pan European Stoxx 600 rose 2.3 percent. The German DAX jumped 2.6 percent, France's CAC 40 index gained 2.4 percent and the U.K.'s FTSE 100 added 2.3 percent.
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