Market is seen opening higher tracking positive leads from Asian markets and overnight rally on the Wall Street. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 113 points at the opening bell.

Overseas, Asian shares rose across the board on Wednesday following a strong bounce on Wall Street overnight. In US, the major indices saw their best day since March, with stocks rising on the back of upbeat earnings and robust economic data.

Meanwhile, US President Donald Trump continued his criticism of the Federal Reserve, calling it his biggest threat as it was raising rates too fast. Trump had previously said the Fed has "gone crazy" and attributed last week's plunge on Wall Street to the US central bank.

On the data front, US industrial production rose 0.3% in September, according to the Federal Reserve. The number of job openings in the US reached another all-time high of 7.1 million in August, according a report released Tuesday morning by the Labor Department. The same report showed that American workers were voluntarily quitting their jobs at a rate of 2.4% in August, matching the July reading, which was the highest since 2001.

The National Association of Home Builders Confidence Index ticked up one point to 68 in October, though it remains down from a cycle high of 74, reached in December 2017.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 1,165.63 crore on 16 October 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1,059.44 crore on 16 October 2018, as per provisional data.

Key equity benchmarks rose for third day in a row yesterday, 16 October 2018, as investors shifted their focus to September quarter earnings season. A fall crude oil prices and an appreciation of rupee against the dollar also boosted sentiment. The Sensex ended above the psychologically important 35,000 mark. The Sensex rose 297.38 points or 0.85% to settle at 35,162.48. The Nifty 50 index rose 72.25 points or 0.69% to settle at 10,584.75.