Sensex, Nifty Seen Up After Recent Losses

(RTTNews) - Indian shares look set to open higher on Wednesday amid reports that the government will soon announce measures to tackle disruption faced by some Indian industries following the coronavirus outbreak in China.

Telecom stocks will be in focus once again after Vodafone Idea chairman Kumar Mangalam Birla reportedly met telecom secretary Anshu Prakash on Tuesday amid fears the government may invoke the company's bank guarantees.

Stock-specific action is likely after National Stock Exchange (NSE) announced changes to the Nifty 50 index as well as other indexes including Nifty 500, Nifty 200, Nifty 100, Nifty Midcap 150 and Nifty Smallcap 250 effective from March 27.

Benchmark indexes Sensex and the Nifty ended down around 0.4 percent on Tuesday to extend losses for a fourth straight session, while the rupee tumbled by 24 paise to settle at 71.56 against the U.S. dollar.

Asian markets edged higher this morning as data showed a decline in new coronavirus cases. The dollar stood tall ahead of the Federal Reserve's January meeting minutes due out later in the day. Oil remains slightly higher while gold prices eased after crossing the key $1,600 level in the previous session.
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