Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 48 points at the opening bell.
Overseas, most Asian markets are trading higher as investors await US Federal Reserve's interest rate decision.
US stocks ended higher on Tuesday as the impact of weekend attacks on Saudi Arabia's biggest oil refinery faded.
Investors are looking forward to a meeting of the Federal Reserve's interest-rate setting committee concluding Wednesday, after which Chairman Jerome Powell will announce the central bank's latest policy decision. Expectations are that the Fed will cut interest rates a second time this year.
On the data front, U.S. industrial production rose 0.6% in August, the Fed said Tuesday. Capacity utilization increased by 0.4 percentage point to 77.9%. Separately, the National Association of Home Builders' monthly confidence index increased one point to 68 in September, matching the highest reading in a year, the trade group said Tuesday.
Back home, key benchmark indices tumbled for second consecutive day on Tuesday, following a surge in global crude oil prices after attacks on Saudi Arabia's oil facilities. The barometer index, the S&P BSE Sensex, fell 642.22 points or 1.73% to 36,481.09. The Nifty 50 index fell 185.90 points or 1.69% to 10,817.60.
The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 808.29 crore yesterday, 17 September 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 85.76 crore yesterday, 17 September 2019, as per provisional data.
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