The Indian equity benchmarks are set to open higher Wednesday as indicated by the Nifty Futures on Singapore Exchange amid positive global cues.
SGX Nifty Update
The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures rose 0.5 per cent or 85 points to 17,015.
Asian Markets
Most of the Asian markets were trading higher with Japan's Nikkei rising 0.6 per cent, Taiwan Weighted up 0.06 per cent and South Korea's KOSPI down 0.32 per cent.
US Markets
Stocks overcame a weak start and finished broadly higher Tuesday, giving the major indexes on Wall Street their best day in nearly five weeks.
The S&P 500 rose 1.6%, enough to recoup almost all of its losses from last week. The Dow Jones Industrial Average rose 1.5% and the Nasdaq gained 2.2%.
The last time the indexes mounted a bigger rally was March 16. The S&P 500 and Nasdaq came into this week with two straight weekly losses, while the Dow has fallen three weeks in a row.
Stocks have mostly struggled this year amid uncertainty over how the economy and Corporate America will be affected as the Federal Reserve moves to reverse low-interest rate policies that helped markets soar in recent years.
Gold and Crude Oil Price Check
Benchmark U.S. crude oil for May delivery fell $5.65 to $102.56 a barrel Tuesday. Brent crude for June delivery fell $5.91 to $107.25 a barrel.
Gold for June delivery fell $27.40 to $1,959 an ounce. Silver for May delivery fell 76 cents to $25.39 an ounce and May copper fell 8 cents to $4.72 a pound.
The dollar rose to 128.77 Japanese yen from 126.98 yen. The euro rose to $1.0790 from $1.0784.
Foreign Flows
Foreign institutional investors (FIIs) sold shares worth Rs 5,872 crore on Tuesday while domestic institutional investors bought shares worth Rs 3,980 crore.
