NIFTY 50 likely to open higher

Indian shares are poised to open slightly higher on Wednesday, with the Nifty 50 index expected to achieve fresh all-time highs, supported by continuous domestic inflows. In contrast, Asian markets show subdued activity amid diminishing expectations of a U.S. rate cut.

As of 8:01 a.m. IST, India's GIFT Nifty was trading at 22,251.50, indicating an opening above Tuesday's close of 22,196.95 for the NSE Nifty 50.

The NIFTY 50 and BSE SENSEX blue-chip indexes have seen six consecutive sessions of gains, each recording approximately a 2.7% increase. The Nifty 50 has reached new record highs in the first two sessions of the week.

On the contrary, other Asian markets have remained restrained over the past six sessions, showing little movement amid diminishing hopes of a prompt U.S. rate cut and apparent indifference to China's efforts to support its struggling property sector.

Despite recent foreign selling prompted by hot U.S. inflation figures, domestic institutional investors (DII) have consistently emerged as net buyers in 12 of the 14 sessions in February. According to provisional stock exchange data, their additions total ₹19,337 crore ($2.3 billion), including ₹1,491 crore on Tuesday.

Key stocks in focus today:

Zee Entertainment Enterprises, Whirlpool of India, Hindalco Industries, Ashok Leyland