Markets are likely to open on a positive note amid mixed global cues and softening crude oil prices. As of 7:50 AM, the SGX Nifty Futures quoted 17,890 levels, indicating an upside of 65 odd-points on the Nifty50.
Globally, investors will monitor minutes of the US FOMC meeting on Wednesday to understand inflation and recession projections. That apart, the US markets were mixed on Tuesday as Dow Jones climbed 0.7 per cent, while the S&P 500 rose 0.1 per cent, and NASDAQ Composite slipped 0.1 per cent.
Also Read : Rupee seen stronger tracking oil price fall; US yields may cap gains
Major markets in Asia-Pacific, too, were mixed on Wednesday morning. Hong Kong’s Hang Seng declined 1.05 per cent, Japan’s Nikkei 225 was flat, and South Korea’s Kospi rose 0.2 per cent.
Meanwhile, prices of crude oil continued to be on a slippery slope. Brent crude hovered at $92 per barrel and WTI Crude was at $86 per barrel.
Back home, shares of Mahanagar Gas will be in focus after gas distribution firm slashed prices of Piped Natural Gas (PNG) and Compressed Natural Gas (CNG).
CATCH ALL THE LIVE UPDATES