Indices geared for upbeat opening

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 85 points at the opening bell.

Global markets:

Overseas, Asian stocks rose in early trade Friday as Wall Street stocks rallied overnight and oil prices fell.

US stocks rose following choppy trading on Thursday, as investors watched western leaders present a unified front against Russia's invasion of Ukraine. Technology companies lifted US stock indices after a sharp fall in the previous session.

Investors are continuing to monitor the war in Ukraine and weigh the Federal Reserve's rate hikes amid persistent inflation. NATO leaders met in Brussels Thursday to discuss increasing pressure on Russia, as Ukraine appears to be retaking ground in the war.

US President Joe Biden said Thursday that NATO would respond in kind if Russia uses weapons of mass destruction in Ukraine. The president spoke after a marathon of summit meetings with the European Union, G-7 partners and NATO allies. Biden also said he would support an effort to expel Russia from the G-20 group of economies.

Domestic markets:

Back home, the domestic equity barometers ended with minor cuts on Thursday, tracking negative global cues. The barometer index, the S&P BSE Sensex fell 89.14 points or 0.15% to 57,595.68. The Nifty 50 index lost 22.90 points or 0.13% to 17,222.75.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,740.71 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,091.07 crore in the Indian equity market on 24 March, provisional data showed.

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