The benchmark indices are likely to open higher, as indicated by the global cues on Thursday. Nifty futures on the Singapore Exchange traded 80 points, or 0.46 per cent, higher at 17,519.50, signaling that Dalal Street was headed for a positive start on Thursday.
On Wednesday, the BSE Sensex ended 214 points or 0.37 per cent higher at 58,350.53. Its NSE counterpart, Nifty50, ended 42.7 points or 0.25 per cent to close at Rs 17,388.15.
Oil Prices Rebound
Oil prices rose in early Asian trade on Thursday, bouncing off multi-month lows in the previous session caused by data signalling weak U.S. fuel demand.
Wall Street Rallies
US stocks jumped to a sharply higher close and Treasury yields touched two-week highs on Wednesday as robust economic data, upbeat corporate guidance and easing geopolitical concerns boosted investor risk appetite. The S&P 500 climbed 1.56% to end the session at 4,155.12 points. The Nasdaq gained 2.59% to 12,668.16 points, while Dow Jones Industrial Average rose 1.29% to 32,812.50 points.
The rupee slumped by 62 paise to close at 79.15 against the US dollar on Wednesday, marking its worst single-day fall in the current fiscal as widening trade deficit and US-China tensions dented the investor sentiment.
MSCI’s index of Asia-Pacific shares outside Japan was up by 0.76 per cent.
Japan’s Nikkei advanced 0.61%, South Korea’s Kospi jumped 0.49%, China’s Shanghai advanced 0.53%, Hong Kong’s Hang Seng added 2.06%
Net-net, foreign portfolio investors (FPIs) turned buyers of domestic stocks to the tune of Rs 765.17crore, data available with NSE suggested. However, DIIs turned net sellers to the tune of Rs 518.42 crore, data suggests.