SGX Nifty suggests a strong opening

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 160 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Wednesday as investors watch for developments surrounding the war in Ukraine.

Japanese retail sales fell in February for the first time in five months. Retail sales fell 0.8% in February from a year earlier, government data showed on Wednesday.

US stocks rose on Tuesday, extending Wall Street`s winning streak as traders monitored ceasefire negotiations in Europe and key levels in the bond market.

Russian claimed it would reduce its attacks on Ukraine as delegates from the two countries met for their latest face-to-face peace talks in Istanbul. Moscow said it would cut back its military activity near Ukraine`s capital of Kyiv and the northern city of Chernihiv, as per reports. Ukrainian officials have pushed for a cease-fire agreement and a resolution to the humanitarian crisis sparked by Moscow`s invasion.

Domestic markets:

Back home, the benchmark indices closed near the day`s high on Tuesday, supported by positive global stocks. The S&P BSE Sensex rose 350.16 points or 0.61% at 57,943.65. The Nifty 50 index gained 103.30 points or 0.60% at 17,325.30.

Foreign portfolio investors (FPIs) bought shares worth Rs 35.47 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,713.31 crore in the Indian equity market on 29 March, provisional data showed.

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