The Indian market is seen opening higher on Wednesday, taking cues from positive Asian markets and firm commodity prices amid easing concerns over a Greek debt default. That said, profit taking after a four-day rally and rollover of positions ahead of the expiry of June series derivative contracts tomorrow may cause some volatility.
The benchmark indexes Sensex and the Nifty closed up about 0.4 percent each on Tuesday, extending gains for a fourth consecutive session, with renewed FII inflows, the recent decline in oil prices and positive global cues helping to boost sentiment.
According to provisional data released by BSE, foreign institutional investors bought shares worth Rs.819.41 crore on a net basis Tuesday, while domestic financial institutions sold shares to the tune of Rs.575.06 crore.
Japan's industrial output rose more than expected in May, the Ministry of Economy Trade and Industry reported Wednesday. Industrial production rose 5.7 percent in May compared to April, the biggest gain since 1953.
Meanwhile, French Finance Minister Christine Lagarde has officially been selected as the new head of the International Monetary Fund, becoming the first woman to lead the lending organization.
Lagarde's official selection by the IMF's Executive Board eliminates some of the uncertainty generated by the resignation of the IMF's former Managing Director Dominique Strauss-Kahn, who resigned in May amid allegations that he sexually assaulted a hotel maid.
On Wall Street, stocks moved higher on Tuesday with continued optimism about the likelihood of a resolution to the Greek debt crisis generating buying interest. The Dow and the S&P 500 jumped about 1.2 percent each, while the Nasdaq climbed 1.5 percent.
Traders remained confident that the Greek parliament will vote in favor of a package of austerity measures even as thousands of protesters have taken to the streets of Greece to demonstrate against the plan. Approval of the multi-billion euro package of spending cuts and tax increases is required for the debt-plagued nation to receive additional financial assistance.
Crude oil prices surged higher amid expectations about a solution to Greece's financial woes. A weak dollar too aided the upmove to an extent. Light sweet crude for August delivery ended up $2.28 or 2.5 percent at $92.89 a barrel on the New York Mercantile Exchange.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.