Sensex, Nifty likely to open higher; IGL, Mindtree, New India Assurance in focus

Indian benchmark indices are likely to open higher on Wednesday over hopes that the government could announce measures to ease liquidity situation and boost the slowing economy in the Union budget. Finance minister Nirmala Sitharaman will present her first Union Budget in the Parliament on July 5.

Meanwhile, Asian markets were subdued as initial enthusiasm over the latest US-China trade truce was overtaken by fresh concerns over Washington's threat of tariffs on additional European goods. Global crude oil prices also edged higher, steadying after a more than 4 percent fall in the previous session.

On Tuesday, Indian shares closed higher for a second straight day led by gains from financials and IT sector. The broader Nifty closed 0.38 percent higher at 11,910.3, while the benchmark Sensex settled 0.33 percent firmer at 39,816.48. 

 At 8.00 AM, SGX Nifty an early indicator of the Nifty 50's trend in India, traded 23.50 points or 0.20 percent higher, at 11,966.50, indicating a positive start for the Nifty 50 and the Sensex. 

Stocks to watch: IGL, Mindtree, New India Assurance in focus.