The prospect of a six-month postponement of tariffs on imported autos and auto parts, along with Treasury Secretary Steven Mnuchin’s remarks that he expects trade talks to resume soon in China, was welcome news to investors, who started the session in a selling mood after the underwhelming economic reports.

Indian shares are likely to open little changed on Wednesday amid flat trades in Asian markets. Shares in Asia traded near a 3-1/2-month low on lingering concerns over the economic impact of a US-China trade war, although an overnight bounce in US stocks limited losses. Indian benchmark indices BSE Sensex and NSE’s Nifty 50 snapped a nine-day losing streak and settled over 0.5 percent higher in the previous session. At 07:00 AM, the SGX Nifty was down 14 points, or 0.13 percent, at 11,246.50, indicating a tepid start for the Sensex and the Nifty.

 Gold prices eased on Wednesday as US President Donald Trump's announcement to delay tariffs on auto imports improved risk sentiment, but lingering concerns about global growth limited losses for the metal.

US stocks gained ground on Wednesday after a report that President Donald Trump was set to delay a decision to impose auto tariffs, offering respite to markets worried about slowing global growth after a batch of weak economic data.