Sensex, Nifty Seen Tad Higher At Open

Indian shares look set to open higher on Wednesday, though the upside may remain limited as investors await the release of Federal Reserve minutes from its November policy meeting for fresh clues as to the U.S. central bank's thinking on rates, heading into the last meeting of the calendar year next month.

Benchmark indexes Sensex and Nifty rose around half a percent each on Tuesday to snap a three-session losing streak, while the rupee closed higher at 81.66 per dollar against its previous close of 81.84.

Asian markets traded mixed as China COVID concerns lingered and New Zealand delivered its biggest rate hike ever. Japan's stock market remains closed for a national holiday.

The dollar, gold and oil all held steady ahead of the Thanksgiving holiday in the United States.

U.S stocks rallied overnight, as upbeat earnings from the likes of Best Buy and Abercrombie & Fitch lifted retailers ahead of the holiday shopping season.

The S&P 500 climbed 1.4 percent to close above 4,000 for the first time since September and the Dow added 1.2 percent to reach a three-month closing high, while the tech-heavy Nasdaq Composite surged 1.4 percent.

European stocks hit three-month closing highs on Tuesday despite mixed comments on interest-rate hikes from Fed and ECB policymakers, and renewed concerns over China's tightening of COVID restrictions.

The pan European STOXX 600 gained 0.7 percent. The German DAX edged up 0.3 percent, France's CAC 40 index rose 0.4 percent and the U.K.'s FTSE 100 climbed 1 percent.

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