Indian shares are seen opening higher on Wednesday as investors bet on a faster-than-expected recovery in the quarter through September.
Union Road Transport and Highways and MSME Minister Nitin Gadkari said on Tuesday that the government is trying to create five crore jobs in the next five years and work is going on in a planned way in agriculture and rural areas.
India's trade deficit narrowed to $9.87 billion in November from $12.75 billion in the same month last year as imports fell more than exports, government data showed. However, the deficit widened from $8.78 billion in October.
Benchmark indexes Sensex and the Nifty ended Tuesday's session on a flat note with a positive bias, while the rupee ended down 8 paise at 73.63 against the U.S. dollar, tracking weakness in most regional currencies.
Asian markets are rising this morning after U.S. House Speaker Nancy Pelosi scheduled a meeting with other congressional leaders to discuss a relief package.
In a post on Twitter, Pelosi's Deputy Chief of Staff Drew Hammill noted the Speaker and the Treasury Secretary spoke by phone and "discussed the urgency of the committees finishing their work as soon as possible."
Optimism for a trade deal on Brexit and news of a rapid expansion of the U.S. vaccination drive also boosted sentiment.
A vaccine developed by Moderna appears poised to receive emergency-use authorization by the U.S. Food and Drug Administration.
The dollar languished near 2 1/2-year lows and gold eased ahead of the Federal Reserve decision, with analysts looking for some guidance on when and how the U.S. central bank might change its bond purchases. Oil prices slipped after data showed a surprise gain in crude oil inventories in the United States.
Overnight, U.S. stocks rose as positive industrial production data, the rollout of Covid-19 vaccines and signs of progress in stimulus talks helped investors look past tightening lockdowns.
The S&P 500 climbed 1.3 percent to snap a four-day losing streak and the tech-heavy Nasdaq Composite surged 1.3 percent to hit a fresh record closing high, while the Dow Jones Industrial Average rose 1.1 percent.
European stocks finished mostly higher on Tuesday as optimism over a post-Brexit trade deal offset concerns about rising Covid-19 cases and tighter restrictions.
The pan European Stoxx 600 gained 0.3 percent. The German DAX rallied 1.1 percent and France's CAC 40 index inched up 0.1 percent while the U.K.'s FTSE 100 eased 0.3 percent.
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