Indian benchmark indices Sensex and Nifty are poised for a strong opening on Wednesday, tracking positive global market sentiment and firm indications from GIFT Nifty. The upbeat outlook follows record highs in US equity markets, gains across Asian indices and a sharp decline in crude oil prices amid easing geopolitical tensions.

GIFT Nifty was trading around 24,745 in early trade, indicating a positive start for the Nifty 50 after the benchmark index closed at 24,614.90 in the previous session. The anticipated recovery comes after Indian markets witnessed profit booking on Tuesday, with investors turning cautious ahead of the Reserve Bank of India's monetary policy announcement and the weekly derivatives expiry.

Global sentiment strengthened after major US indices ended at fresh record highs, supported by stronger-than-expected corporate earnings and improving geopolitical developments. Asian markets also traded higher, reflecting increased investor confidence following optimism over easing tensions in the Middle East and expectations of reduced disruptions to global energy supplies.

Crude oil prices remained under pressure after declining sharply in the previous session as hopes of progress in diplomatic efforts reduced concerns over supply disruptions. Lower crude prices are viewed as positive for India, helping ease inflationary pressures and improving the country's import bill.

Market participants are now focused on the Reserve Bank of India's Monetary Policy Committee decision, which is expected to provide guidance on interest rates, inflation, liquidity conditions and the overall economic outlook. The central bank's commentary will be closely monitored for indications regarding the future policy trajectory.

Foreign institutional investors continued to support domestic equities by extending their buying streak for the sixth consecutive session, purchasing Indian equities worth ₹2,446 crore on Tuesday. Although domestic institutional investors were net sellers during the session, sustained foreign inflows continued to provide support to overall market sentiment.

From a technical perspective, the Nifty continues to maintain a constructive trend despite recent profit booking. A sustained move above the 24,600 level could strengthen bullish momentum and open the path towards the 24,800-25,000 zone, while the 24,400-24,300 range is expected to provide immediate support in the near term.