Major benchmark indices are likely to open with modest gains, judging by the trends indicated by the SGX
Futures contracts, which were quoting 17, 446 levels at 7:30 am. This hints at an opening gain of 80 single pips on Nifty50.
Markets fell sharply on Tuesday, recovering from the previous day’s losses as shares of Reliance and Information Technology outperformed and led the upward movement.
Investors are expected to continue to monitor developments related to the Russian-Ukrainian conflict, which has so far been going on for a whole month.
President Volodymyr Zelensky said talks between Ukraine and Russia are confrontational but are still moving forward. Moreover, US President Biden will hold a meeting with NATO members on Thursday to announce further sanctions against Russia.
Another major global event that investors will be watching is the release of UK Consumer Price Index (CPI) and Producer Price Index (PPI) numbers for February.
back to home , Infosys It will be on the radar as the IT major announced the acquisition of Strange Agency, a Germany-based digital marketing, expertise and commerce agency for €50 million.
This apart from the stock GMR Energy and Urban Infrastructurethe non-airport trading company of the GMR Group, will begin trading on the Bahrain Stock Exchange and the New South Wales Stock Exchange from today onwards.
global signals
US stocks rose on Tuesday as investors digested the hawkish comments of the Federal Reserve Chairman. The Dow Jones rose 0.7 percent, the Standard & Poor’s 500 rose 1.1 percent, and the Nasdaq rose 1.95 percent.
Brent crude closed down 1 percent at $114 a barrel. West Texas Intermediate crude also fell 0.6 percent to $111.7 a barrel. In early trading on Wednesday, Brent crude is back around $115.
Asian markets were higher this morning with the Nikkei up 2 per cent and the Hang Seng up 0.9 per cent. The Kospi added 0.7 percent. The Shanghai Composite and Shenzhen Component opened with marginal gains as well.
