MARKET LIVE: SGX Nifty indicates a flat start for indices; IRCON in focus

LIVE market updates: The Indian benchmark indices are set to open on a flat note on Wednesday, with the Nifty50 index looking to reclaim the 15,000-mark. Amid lack of fresh triggers, investors are likely to track global cues, stock-specific action, and oil and Rupee's trajectory for the market direction.

Global cues

Asian shares edged higher on Wednesday as investors shrugged off concerns that stocks may have rallied too far too fast in the past year, and focused instead on optimism that more imminent US stimulus will energise the global economic recovery. Australian shares gained 0.6 per cent while Hong Kong's Hang Seng index gained 0.8 per cent.

Wall Street had retreated overnight. The S&P 500 dropped 0.8 per cent, the Dow Jones fell 0.46 per cent, and the Nasdaq dropped 1.69 per cent. Benchmark U.S. government bond yields dipped again for the third consecutive day as investors paused a recent sell-off ahead of a slew of U.S. economic data that will be released later this week.

Oil prices were soft after hitting a two-week low overnight on expectations that OPEC+ producers will ease supply curbs at their meeting later this week as economies start to recover from the coronavirus crisis. Brent futures fell 1.68 per cent to $62.62 a barrel.

(with inputs from Reuters)