The Indian equity benchmarks are set to open marginally higher as indicated by nifty Futures traded on Singapore Exchange. Nifty Futures on Singapore Exchange also known as SGX Nifty Futures rose 0.2 per cent to 17,532.
Indian equity benchmarks BSE Sensex and NSE Nifty50 extended gains to a third straight session on Wednesday with gains in financial, auto and IT shares.
The global markets are likely to play a spoilsport on Thursday amid little hopes for de-escalation of Russia in the war in Ukraine and rebound of oil prices.
Here are key things to know before market opens on Thursday
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Asian Markets
Asian stocks on Thursday eased after this week's global rally, following Wall Street's overnight stumble, while oil dropped sharply as the United States weighed a massive draw from its reserves to rein in surging fuel prices, news agency Reuters reported. Japan's Nikkei declined 0.2 per cent, Hong Kong's Hang Seng declined 0.6 per cent and Singapore's Straits Times fell 0.2 per cent.
US Markets
However, US stocks fell on Wednesday as hopes faded for de-escalation in the war in Ukraine and investors assessed the risks to economic growth from accelerating inflation. Oil rebounded from a two-day slide.
The S&P 500 dropped following warnings that gains of the past two weeks have the hallmarks of a bear-market rally. The tech-heavy Nasdaq 100 slid 0.8% to session lows. Treasuries rose across maturities, after a brief inversion in a segment of the curve on Tuesday signaled the prospect of a recession. In Europe, yields rose as traders bet higher inflation will force policy makers to end their era of negative rates sooner than previously anticipated.
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Talks with Ukraine yielded no breakthroughs and a lot of work remains before a deal is possible, Kremlin spokesman Dmitry Peskov said, underlining the difficulties facing efforts to reach a cease-fire. The economic damage from the war in Ukraine is worsening across Europe as already-record inflation soars further and Germany faces a danger of recession because of its dependence on Russian energy.
Oil Prices
Oil rose back over $108 a barrel in New York. The dollar slipped, the euro climbed and the yen bounced from a six-year low after the Bank of Japan pledged to buy more securities than planned and include longer-dated debt.
RBI MPC meet
The Reserve Bank's Monetary Policy Committee (MPC) will meet six times during the next financial year. The Reserve Bank of India (RBI) Governor-headed rate setting panel will be holding its first meeting of the next fiscal from April 6-8.
Foreign Flows
Foreign institutional investors bought shares worth Rs 1,357 crore on Wednesday while domestic institutional investors bought shares worth Rs 1,216 crore.
