The Indian equity benchmarks are set to open higher as indicated by the Nifty Futures traded on Singapore Exchange amid stable global cues. The Nifty Futures on Singapore Exchange also known as SGX Nifty Futures rose 0.3 per cent to 17,373. Meanwhile, most of the Asian markets were trading higher with Hong Kong's Hang Seng up 0.3 per cent, Taiwan Weighted up 0.34 per cent and South Korea's KOSPI up 1.4 per cent.Overnight, stocks on Wall Street and in Europe rebounded on Tuesday while oil prices fell after Russia indicated it was withdrawing some troops from exercises near Ukraine and President Vladimir Putin said he saw room for further discussion with the West, news agency Reuters reported.
The Dow Jones Industrial Average rose 1.22 per cent, the S&P 500 added 1.58 per cent and the Nasdaq Composite advanced 2.53 per cent.
While the Ukraine crisis simmered, the Labor Department reported U.S. producer prices increased by the most in eight months in January, a reminder that high inflation could persist through much of this year.
Back home, foreign institutional investors sold shares worth Rs 1,891 crore on Wednesday while domestic institutional investors bought shares worth Rs 1,180 crore.
Tata Consultancy Services will be in focus after it announced exchanges that it has partnered with MATRIXX Software to integrate TCS HOBS its plug and play digital business platform for subscription, device and data management, with the cloud native, converged charging capabilities of the MATRIXX Digital Commerce Platform. The integrated solution will help Communication Service Providers (CSPs) transform their prepaid and postpaid businesses, enable superior customer experience, and drive growth.
Wipro will be on investors' radar after it was awarded a 5-year contract by ABB. The agreement, worth over $150 million, will help ABB’s Information Systems deliver enhanced, consumer-grade digital experiences for its 105,000 employees in over 100 countries.
Infosys will be in focus after it was named a Foundational Partner for the launch of Google Cloud Cortex Framework. As a Foundational Partner, Infosys will help clients accelerate digital transformation and power new business capabilities with its market-leading data, analytics and AI expertise.
