The domestic equity market was set to open on a higher note on Wednesday, ahead of the RBI monetary policy outcome. All eyes would be set on the commentary from the central bank. Asian peers traded higher following a strong rally in US stocks in overnight trade, led by tech stocks. Back home, the IPO of Shriram Properties kicks off today. Here's breaking down the pre-market actions:
STATE OF THE MARKETS

SGX Nifty signals positive start
Nifty futures on the Singapore Exchange traded 102.5 points, or 0.60 per cent, higher at 17,313.50, signaling that Dalal Street was headed for a positive start on Wednesday.

• Tech View: After the last two sessions of sharp sell-off, the bulls finally managed to stage a comeback on Tuesday as the Nifty50 index almost recouped all losses sustained in the last session.
• India VIX: The fear gauge eased over 8 per cent to 18.46 level on Tuesday over its close at 20.08 on Monday.

Asian shares trade mostly higher
Asian stocks opened mostly higher on Wednesday after Wall Street shares rallied for a second straight session on receding worries over the latest Covid-19 variant. MSCI's index of Asia-Pacific shares outside Japan was up by 0.44 per cent.

• Japan's Nikkei advanced 1.04%
• South Korea's Kospi rallied 1.06%
• Australia's ASX 200 gained 1.01%
• China's Shanghai climbed 0.11%

• • Hong Kong's Hang Seng shed 0.17%
  
  Wall Street closes higher
  Wall Street's main indexes finished Tuesday's session with strong gains as investors shook off some anxiety about the latest coronavirus variant and investors boosted Nasdaq by piling into technology stocks.
  • Dow Jones surged 1.40% to 35,719.43
  • S&P 500 rallied 2.07% to 4,686.75
  • Nasdaq advanced 3.03% to 15,686.92
  The Australian dollar hit its strongest level in a week on Wednesday amid a pick-up in risk appetite on signs Omicron may be less severe than other COVID-19 variants, but still vulnerable to existing vaccines.
  
  
  • Dollar Index little changed at 96.269
  • Euro edged higher to $1.12735
  • Pound was sitting at $1.32415
  • Yen hovered near 113.45 per dollar
  • Yuan appreciated to 6.3608 against the greenback
  Oil edges lower
  Oil prices edged lower on Wednesday, reversing gains from earlier the week, as investors tried to assess the full impact of the Omicron coronavirus variant on global fuel demand and the effectiveness of existing vaccines.
  
  Brent crude futures dropped 25 cents, or 0.3 per cent, to $75.19 a barrel at 0129 GMT. US West Texas Intermediate crude was at $71.86 a barrel, down 19 cents, or 0.3 per cent.

  
  FPIs sell shares worth Rs 2,585 cr
  Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 2,584.97 crore, data available with NSE suggested. DIIs turned net buyers to the tune of Rs 2,605.81 crore, data suggests.
  
  MONEY MARKETS
  Rupee: The rupee erased all its intra-session gains to end on a flat note at 75.44 against the US dollar on Tuesday as investors took note of rising crude oil  prices and sustained foreign capital outflows.
  
  10-year bonds: India 10-year bond spiked half a per cent to 6.39 after trading in 6.37 - 6.39 range on Tuesday.
  
  Call rates: The overnight call money rate weighted average stood at 3.26 per cent on Tuesday, according to RBI data. It moved in a range of 2.00-3.45 per cent.