The Indian equity benchmarks are set to stage a gap up opening with the Nifty 50 index seen opening above its important psychological level of 18,200 as indicated by the Nifty Futures traded on Singapore Exchange. Nifty Futures on Singapore Exchange rose 0.8 per cent or 148 points to 18,239 amid positive global cues. Japan's Nikkei jumped nearly 2 per cent, Hong Kong's Hang Seng advanced 1.77 per cent and South Korea's KOSPI climbed 1.4 per cent.
Overnight, US stocks bounced and Treasury yields retreated on Tuesday in choppy trade as investors absorbed remarks from the Federal Reserve that interest rates are likely to rise this year, as expected. The Dow Jones Industrial Average closed up 0.51 per cent, the S&P 500 added 0.92 per cent, and the Nasdaq Composite climbed 1.41 per cent, news agency Reuters reported.
Back home, Tata Consultancy Services, Infosys and Wipro will be in focus today as the big three information technology companies will report their December quarter earnings later in the day.
Tata Teleservices will be in focus after its board approved conversion of its deferred Adjusted Gross Revenue (AGR) into equity shares, the company said in a regulatory filing on Tuesday.
Delta Corp will be on investors radar after its profit in December quarter came in at Rs 70.38 crore compared with Rs 1.28 crore in the same period last year.