After managing to barely snap their 5-day losing run on Tuesday, the benchmark indices look poised for a gap-up start in today's trade even as the global setup remained mixed. At 7.15 am, Nifty futures on the Singapore Exchange traded 94 points up at 14,808.
In the overnight session, the Dow & S&P500 recouped early losses after Federal Reserve Chairman Jerome Powell signaled that the central bank was nowhere close to pulling back on its support for the pandemic-damaged US economy even as he voiced expectations for a return to more normal, improved activity later this year. Powell said that Fed would remain accommodative and would not change without advance warning.