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Benchmark indices hit record highs on Tuesday with Nifty surpassing the 16,000 milestone led by rally in heavyweights and positive macro news flows on GST and export data. The NSE Nifty 50 index closed up 1.55% at 16,130 while BSE Sensex rose nearly 900 points to 53,823.36.

Things to know before market opens -

Wall Street: US stocks shook off a wobbly start and ended higher Tuesday as traders weighed another big set of company earnings reports. Health care and technology stocks led the gains.

The S&P 500 rose 35.99 points whereas the Dow Jones Industrial Average rose 278.24 points and the tech-heavyweight Nasdaq jumped 80 points.

Asian markets: Asian shares advanced to one-week highs on Wednesday, led largely by strong U.S. corporate earnings, although the mood remained cautious as the rapidly spreading Delta variant of the coronavirus clouds the global economic outlook, reported Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.1% to the highest since July 26. Japan's Nikkei was in the red as were Chinese shares with the blue-chip index off 0.2%. Australian shares were a touch firmer but sentiment was marred by an unabating rise in Delta infections in Sydney, the country's biggest city.

Oil prices: Oil prices fell for a third day on Wednesday on mounting concerns that the increasing spread of the Delta variant of the coronavirus in top consuming countries will cut fuel demand. Brent crude oil futures slid 22 cents, or 0.3%, to $72.19 a barrel, as of 0129 GMT. U.S. West Texas Intermediate (WTI) crude fell 33 cents, or 0.5%, to $70.23 a barrel.

SGX Nifty: SGX Nifty indicates a positive opening for the Indian stock markets today. Singapore Nifty (SGX Nifty) is the Indian Nifty that is traded in Singapore Stock Exchange and is considered to be the first indication of the Indian markets opening.

Earnings today: State Bank of India, Titan, Apollo Tyres, HPCL, Adani Green, PNB Housing, Blue Star are some of the companies scheduled to report their earnings today.

(With inputs from agencies)

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