Indian Market Likely To See Mixed Start

Indian shares are likely to open on a mixed note on Wednesday. While higher SGX Nifty futures point to a slightly higher start, weakness in Asian markets and the overnight decline on Wall Street may weigh on stocks.

Also, investors may look to take some profits after five successive days of gains.

Sustained buying by foreign institutional investors has contributed to the market hitting record highs in recent sessions. According to data available on the National Stock Exchange, FIIs were net buyers to the tune of Rs 2,350 crore on Tuesday. Meanwhile, domestic institutional investors sold shares worth Rs 2,020 crore.

Vedanta Ltd promoters have reportedly pledged and encumbered their entire stake of 55.1% equity with OCM Verde Investment to fund Vedanta Resources' outstanding debt of $900 million.

Jindal Steel & Power Limited has received regular supplier status from Indian Railways to supply 60kg 880 grad rails.

The Indian market ended on a high note on Tuesday, as news about U.S. stimulus and post-Brexit trade deal continued to aid sentiment. The key indices Sensex and the Nifty went on to post fresh intraday and closing highs.

The benchmark BSE Sensex, which soared more than 360 points to 47,714.55 in early trades, ended the day with a gain of 259.33 points or 0.55% at 47,613.08. The Nifty ended up 59.40 points or 0.43% at 13,932.63, after climbing to a high of 13,967.60.

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