SGX Nifty futures signal strong start for Indian equities, election results eyed
Premium- Nifty futures trading on Singapore exchange were higher at 16,612. Nifty had finished 2% higher at 16,345 on Wednesday.
Asian markets were sharply higher today as Japan's Nikkei jumped 3% on hopes for a ceasefire between Russia and Ukraine ahead of their first high-level meeting since Moscow invaded its neighbour. Overnight, Wall Street finished sharply higher. Nifty futures trading on Singapore exchange were higher at 16,612. Nifty had finished 2% higher at 16,345 on Wednesday.
Traders will be eyeing the outcome of recently held state elections as vote-counting starts from 8 am.
“In near term volatility cannot be ruled out till the uncertainty looms over the Ukraine conflicts. Investors will watch out for the state elections result on Thursday. Any positive outcome in favour of BJP will add to optimism in the market. However, one needs to remain cautious in coming days on account of, ECB and US Fed meeting," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
“Besides the geopolitical updates, domestic factor i.e. states' election results will also be in focus. We expect volatility to remain high so participants should prefer hedged trades," said Ajit Mishra, VP - Research, Religare Broking Ltd.
While Ukrainian President Volodymyr Zelensky struck a conciliatory tone by saying he has "cooled down" about his country's bid to join NATO, a Russian air strike on a children's hospital in a Ukrainian city on Wednesday added fresh tension.
Talks between Russian Foreign Minister Sergei Lavrov and his Ukrainian counterpart Dmytro Kuleba are scheduled to take place in southern Turkey later today.
Oil edged higher after the biggest drop since November as the fallout from Russia’s invasion of Ukraine continued to rattle markets.
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Futures in New York rose above $110 a barrel on Thursday after plunging 12% in the previous session. Oil sank after the United Arab Emirates called on OPEC+ to boost output faster, though the nation’s energy minister appeared to temper that message a few hours later. Ukrainian President Volodymyr Zelenskiy also repeated he’s willing to consider some compromises to help end the war. (With Agency Inputs)
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