The Indian equity benchmarks are set to open higher as indicated by the Nifty futures on Singapore Exchange amid strong global cues. The Nifty Futures on Singapore Exchange also known as SGX Nifty Futures rose 150 points or 0.9% to 17,527.
Here are key things to know before market opens:
Asian Markets
Asian markets were trading higher as they joined the global rally in equities as hopes rose for a negotiated end to the Ukraine conflict. Taiwan Weighted advanced 0.95 per cent, Hong Kong's Hang Seng climbed 0.83 per cent and Straits Times rose 0.24 per cent.
US Markets
Stocks notched more gains on Wall Street Tuesday as investors welcomed encouraging economic data and as talks on ending the war in Ukraine showed signs of progress.
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The S&P 500 rose 1.2%, its fourth straight gain. The Dow Jones Industrial Average ended 1% higher and the Nasdaq composite climbed 1.8%. The latest gains build on the major indexes’ gains the past two weeks, even in the midst of choppy trading and volatile energy prices.
The market rally followed signs that first face-to-face talks in two weeks between Russia and Ukraine made some progress. Turkey hosted the discussions Tuesday, and the nation’s foreign minister said afterward that Russian and Ukrainian negotiators had reached “a consensus and common understanding” on some issues.
Russia-Ukraine War Update
Ukraine’s U.N. Ambassador Sergiy Kyslytsya told the U.N. Security Council on Tuesday that the “demilitarization of Russia is well under way.”
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Since the beginning of the invasion into Ukraine, Kyslytsya said the Russian occupiers have lost more than 17,000 military personnel, over 1,700 armored vehicles and almost 600 tanks.
He also said Russia also has lost 300 artillery systems, 127 planes and 129 helicopters, almost 100 rocket launchers systems, 54 air defense systems and seven ships.
Kyslytsya said that is “an unprecedented blow to Moscow, where the numbers of Soviet losses in Afghanistan pale in comparison.”
Earlier Tuesday, Russia announced it will significantly scale back military operations near Ukraine’s capital and a northern city, as the outlines of a possible deal to end the grinding war came into view at the latest round of talks.
Negotiations are expected to resume Wednesday, five weeks into what has devolved into a bloody war of attrition, with thousands dead and almost 4 million Ukrainians fleeing the country.
Foreign Flows
Foreign institutional investors bought shares worth Rs 35 crore on Tuesday while domestic institutional investors bought shares worth Rs 1,713 crore.
