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The Nifty50 is likely to open higher on Wednesday following positive trend seen in other Asian markets. The Nifty50 closed 71 points higher on Tuesday at 11,008.
Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 37 points or 0.34 percent. Nifty futures were trading around 11,062-level on the Singaporean Exchange.
Wall Street stocks rose on Tuesday, with the Dow Jones Industrial Average posting its fourth consecutive session of gains after Federal Reserve Chairman Jerome Powell expressed an optimistic US economic view and solid earnings bolstered the outlook for a robust reporting period, said a Reuters report.
Asian shares followed Wall Street higher on Wednesday as a bullish outlook from the head of the US central bank buoyed the dollar, lifted Tokyo shares to a one-month top and sent gold to a one-year trough, it said.Japan's Nikkei leapt out of the blocks with a 1 percent gain as a weakening yen promised to fatten exporters' profits. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.16 percent and South Korea's market 0.85 percent.
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