Nifty Seen Opening Higher Amid Strong Cues From Asian Markets

The Indian equity benchmarks are set to open higher as indicated by the Nifty Futures traded on Singapore Exchange amid positive cues from global markets. The Nifty Futures on Singapore Exchange also known as SGX Nifty Futures rose 40 points to 17,388. Meanwhile, investor sentiment got a boost globally after Russia decided remove some forces from the Ukraine borders. Asian markets were trading on a strong note with Hong Kong's Hang Seng up 1.2 per cent, Japan's Nikkei advanced 2.1 per cent and South Korea's KOSPI rose 1.7 per cent.

Overnight, stocks on Wall Street and in Europe rebounded on Tuesday while oil prices fell after Russia indicated it was withdrawing some troops from exercises near Ukraine and President Vladimir Putin said he saw room for further discussion with the West. 

On Wall Street, the Dow Jones Industrial Average rose 1.22 per cent, the S&P 500 added 1.58 per cent and the Nasdaq Composite advanced 2.53 per cent, news agency Reuters reported.

Back home, foreign institutional investors sold shares worth Rs 2,299 crore on Tuesday while domestic institutional investors bought shares worth Rs 4,411 crore.

Vedant Fashions, parent of garment retailer Manyavar, will make its stock market debut on stock exchanges at 10:00 am.

Tech Mahindra will be in focus after its board approved a proposal to acquire 80 per cent stake in Geomatic. ai PTY.