Stocks poised for upbeat start

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 78 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher on Wednesday as investors monitored oil prices and continued to assess the outlook for U.S. Federal Reserve monetary policy.

U.S. stocks rebounded Tuesday as traders digested Federal Reserve Chair Jerome Powell`s latest rate hike comments. Powell said �inflation is much too high� and vowed to take �necessary steps� to curb inflation.

Domestic markets:

Back home, the domestic equity barometers settled with robust gains on Tuesday. The S&P BSE Sensex surged 696.81 points or 1.22% at 57,989.30. The Nifty 50 index rallied 197.90 points or 1.16% to 17,315.50.

Foreign portfolio investors (FPIs) bought shares worth Rs 384.48 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 602.05 crore in the Indian equity market on 22 March, provisional data showed.

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