SGX Nifty indicates positive start

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 42 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher on Wednesday, as investors react to China's inflation data. Meanwhile, tensions appeared to ease between Russia and Ukraine, boosting markets.

China's consumer price index for January rose 0.9% as compared with a year ago, slightly lower than expectations. Chinese producer inflation for January was also below expectations. The producer price index for January rose 9.1% as compared with a year earlier.

Wall Street ended sharply higher on Tuesday, as signs of de-escalating tensions along the Russia-Ukraine border sparked a risk-on session.

Russia's government announced Tuesday that Moscow is starting to return some troops at the Ukrainian border, though NATO's chief warned that the military alliance has so far not seen any sign of de-escalation on the ground from the Russian side.

Domestic markets:

Back home, the benchmark indices ended with robust gains on Tuesday after registering steep losses in the past two sessions. The S&P BSE Sensex, soared 1,736.21 points or 3.08% at 58,142.05. The Nifty 50 index surged 509.65 points or 3.03% at 17,352.45.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,298.76 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 4,411.60 crore in the Indian equity market on 15 February, provisional data showed.

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