MARKETS: Positive start on horizon as SGX Nifty rises 50 pts; Nestle eyed

LIVE market updates: The key benchmark indices are expected to start Thursday’s session in the positive zone as per trends indicated by the SGX Nifty futures, which were quoting 17,374 levels around 8 am, over 50 points higher than Nifty’s previous spot close.

Today’ session could witness volatility on account of the weekly F&O expiry. Meanwhile, investors may also take into account the January Fed meeting minutes, which show that the central bank believed it was time to raise interest rates, but also that any decisions would depend on a meeting-by-meeting analysis of inflation and other data.

Wipro may also be eyed as the company has received a five-year contract to drive transformation for ABB’s information systems digital workplace services. The agreement, worth over $150 million, will help ABB’s information systems deliver enhanced, consumer-grade digital experiences for its 1,05,000 employees in over 100 countries.

Global Cues

Meanwhile, Oil prices rose as the US and NATO questioned Russia’s willingness to negotiate a solution to the crisis, and accused it of increasing its military build-up surrounding Ukraine. Brent crude surged 1.6 per cent to $94.81 a barrel, and WTI crude jumped 1.7 per cent to $93.66, a barrel.

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