Domestic stock markets are likely to start Thursday’s session on a positive note, a day after benchmark indices Sensex and Nifty soared more than 3 per cent in their biggest single-day surge so far this month. The Singapore Exchange (SGX) Nifty futures – an early indicator of the National Stock Exchange (NSE) Nifty index – added 57.15 points to touch 9,368.25 at the strongest level recorded ahead of the opening of Indian markets. At 8:12 am, the SGX Nifty futures were up 35.70 points – or 0.38 per cent – at 9,346.80.
Asian shares are ticked up in early deals. South Korea’s Kospi was up 0.6 per cent, while Japan’s Nikkei gained 1.4 per cent and Australia’s ASX jumped 2.2 per cent. However, a certain source of worry for the investors will be the US response to China on the issue of Hong Kong.
Overnight, US stocks rose on Wednesday, with the S&P 500 closing above 3,000 for the first time since March 5, as the further easing of lockdowns lifted optimism for an economic recovery. The Dow Jones rose 2.2 per cent, the S&P 500 gained 1.48 per cent, and the Nasdaq Composite added 0.77 per cent.
Meanwhile, brent crude futures were last down 1.73 per cent to $34.14 a barrel.
There could be some volatility during the day as this is the last day of the May F&O series, compelling the derivatives market participants to either roll over or cut their existing positions
On Wednesday, the Sensex had soared 995.92 points to end at 31,605.22, and the Nifty settled at 9,314.95, up 285.90 points from the previous close, led by sharp buying interest in banking stocks.