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Indian Shares Seen Flat To Higher At Open

Indian shares are seen opening higher on Wednesday as data showed foreign institutional investors continue to buy domestic equities. Retail stocks could be in focus after reports that the government is considering revising its foreign investment rules for e-commerce.

On the Covid-19 front, India will start exporting Covid-19 vaccines from today following requests from neighboring and key partner countries.

Benchmark indexes Sensex and the Nifty jumped around 1.7 percent each on Tuesday, while the rupee gained 11 paise to close at 73.17 against the U.S. dollar.

Asian markets remain mostly higher this morning ahead of the U.S. presidential inauguration ceremony. Gold prices inched up on a weaker dollar while oil extended gains on stimulus hopes.

U.S. stocks rose overnight as traders returned to their desks following a long holiday weekend.

The Dow Jones Industrial Average inched up 0.4 percent and the S&P 500 added 0.8 percent as Janet Yellen made the case for large-scale fiscal stimulus and some of the country's biggest banks beat expectations for fourth-quarter earnings.

The tech-heavy Nasdaq Composite jumped 1.5 percent to end the session just shy of the record closing high set earlier this month.

European markets ended on a subdued note Tuesday as investors weighed the economic impact of surging coronavirus cases and tighter lockdown restrictions in several places across the continent.

The pan European Stoxx 600 gave up 0.2 percent. The German DAX slid 0.2 percent, France's CAC 40 index eased 0.3 percent and the U.K.'s FTSE 100 edged down 0.1 percent.

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