At 7:30 am, Nifty futures were trading higher by 0.2 per cent on Singapore Stock Exchange.
The domestic stock markets are likely to open in the green, following strong closing on Wall Street overnight, firm Asian markets and positive indications from early SGX Nifty trading. Trends on SGX Nifty indicate a positive opening for the index in India, with a 23 points gain. At 7:30 am, the Nifty futures were trading at 11,583, higher by 23 points or 0.2 per cent on the Singapore Stock Exchange.
Asian markets gained on Thursday after the S&P 500 cruised to another record overnight stateside. In Japan, the Nikkei 225 rose 1.35 per cent in early trade as shares of Fast Retailing jumped more than 2.5 per cent. The Topix index also gained 0.96per cent. South Korea’s Kospi advanced 0.84 per cent. The S&P/ASX 200 in Australia gained 0.88 per cent.
Overnight, the US markets rose sharply, continuing a strong start to September for the market as traders took profits out of high-flying names like Apple and Tesla and snapped up shares in more beaten-down parts of the market.
The Dow Jones jumped 1.6 per cent, S&P 500 gained 1.5 per cent and Nasdaq Composite was higher by 1 per cent.
Meanwhile, oil prices were little changed in early trade on Thursday, sitting near multi-week lows hit overnight on worries about fuel demand due to a patchy U.S. economic recovery.
U.S. West Texas Intermediate (WTI) crude futures inched up 3 cents, or 0.1 per cent, to $41.54 a barrel at 0115 GMT, while brent crude futures slipped 7 cents, or 0.2 per cent, to $44.36 a barrel.
On Wednesday, the Sensex ended 185.23 points – or 0.48 per cent – higher at 39,086.03, and the Nifty settled at 11,535.00, up 64.75 points – or 0.56 per cent.
