Indian Shares May Open Higher On Positive Global Cues

(RTTNews) - Higher GIFT Nifty index futures, positive lead from Wall Street and fairly steady Asian stocks suggest a positive start for Indian shares Wednesday morning.

Ahead of Christmas holidays, volume of business in most of the global markets remain thin, and the trend is unlikely to be any significantly different back home.

GAIL India has signed a Memorandum of Understanding (MoU) with the Government of Chhattisgarh for the development of a greenfield gas-based fertilizer project in the state.

Adani Ports and Special Economic Zone has raised its earnings and cargo volume outlook after completing the acquisition of Australia's North Queensland Export Terminal.

Reliance Industries and Axis Energy Ventures India Pvt. Ltd., have emerged as top bidders for the central government's latest round of coal block auctions.

Indian shares turned in a mixed performance on Tuesday, and the benchmark indexes Sensex and the Nifty50 settled roughly flat, as traders largely stayed on the sidelines, awaiting fresh clues.

The BSE Sensex settled with a loss of 42.64 points or 0.05% at 85,524.84 after scaling a low of 85,342.99 and a high of 85,704.93 intraday. The National Stock Exchange's Nifty50 finished with a small gain of 4.75 points or 0.02% at 26,177.15.

U.S. stocks closed higher on Tuesday after showing a lack of direction early in the session. The S&P 500 reached a new record closing high.

The S&P 500 climbed 31.30 points or 0.5% to 6,909.79 and the Nasdaq advanced 133.02 points or 0.6% to 23,561.84, while the Dow rose 79.73 points or 0.2% to 48,442.41.

The Commerce Department said real gross domestic product spiked by 4.3% in the third quarter after surging by 3.8% in the second quarter. Economists had expected GDP to jump by 3.3%.

At the same, the report also showed the pace of consumer price growth accelerated in the third quarter compared to the second quarter.