Nifty Seen Opening Close To 17,800; ITC, Titan, Lupin In Focus

The Indian equity benchmarks are set to open on a flat note of two days of strong upmove as indicated by the Nifty Futures traded on Singapore Exchange. Nifty Futures on Singapore Exchange also known as SGX Nifty Futures declined 15 points to 17,793 amid positive global cues. Hong Kong's Jang Seng advanced 1 per cent, Singapore's Straits Times gained 2.2 per cent and South Korea's KOSPI rose 2.14 per cent.

Overnight, global stocks rallied on Wednesday to close higher as strong earnings from U.S. technology companies and OPEC+ plans for moderate oil output helped to counter jitters over weak economic reports.

The STOXX index of 600 European companies rose 0.45 per cent, up for a third straight session, to recoup nearly half its losses during January's global rout in shares.

MSCI's gauge of stocks across the globe gained 0.80 per cent.

The Nasdaq Composite added 0.5 per cent. Last month, the tech-heavy index fell as much as 19 per cent from its all-time high in November as investors dumped highly valued growth stocks on prospects of faster-than-expected rate hikes, news agency Reuters reported.

Back home, foreign institutional investors sold shares worth Rs 184 crore on Wednesday while domestic institutional investors bought shares worth Rs 426 crore.

ITC, Titan and Lupin will be in focus as they will report their December quarter earnings later in the day.