Sensex, Nifty Likely To Open Firm

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Sensex, Nifty Likely To Open Firm

Around 07:30 am, The Nifty futures were trading higher by 0.5 per cent on Singapore Stock Exchange.

The domestic stock markets are expected to open in the green, extending their gains of the previous session, tracking positive global cues as increasing optimism for a safe and effective COVID-19 vaccine eased concerns. Trends on SGX Nifty indicate a positive opening for the index in India with a 54 points gain. The Nifty futures were trading at 10,453, higher by 54 points or 0.5 per cent on the Singapore Stock Exchange around 07:30 am.

Asian stocks were set to track Wall Street gains on Thursday as investors cheered signs the global economy was emerging from its coronavirus hibernation although trade is likely to be choppy as fresh concerns about Hong Kong keep investors cautious.

E-mini futures for the S&P 500 edged 0.06 per cent higher, while Australian S&P/ASX 200 futures climbed 0.71 per cent and Japan’s Nikkei 225 futures rose 0.4 per cent.

The S&P 500 and Nasdaq indexes closed higher on Wednesday to kick off the third quarter as increasing optimism for a safe and effective COVID-19 vaccine eased concerns that another round of business lockdowns was likely.

The Dow Jones fell 0.3 per cent, while the S&P 500 gained 0.50 per cent and the Nasdaq Composite added 0.95 per cent.

Oil prices slipped in early trade on Thursday after California reimposed some coronavirus lockdown measures, stoking worries a resurgence in COVID-19 cases will stall a recovery in fuel demand.

U.S. West Texas Intermediate (WTI) crude futures fell 13 cents, or 0.3 per cent, to $39.69 a barrel at 0024 GMT, trimming a 1.4 per cent rise from Wednesday. Brent crude futures fell 15 cents, or 0.3 per cent, to $41.89 a barrel, after rising 1.8 per cent in the previous session.

On Wednesday, the Sensex ended 499 points, or 1.43 per cent, higher at 35,414 and the Nifty gained 128 points, or 1.24 percent, to end at 10,430.

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