Domestic stock markets are likely to start Friday’s session on a positive note, a day after benchmark indices halted a three-day rally amid increasing cases of COVID-19 in the country. The Nifty futures trading on Singapore Exchange – an early indicator of the NSE Nifty 50 index – climbed up as much as 0.86 per cent – or 97.5 points – to 11,391 ahead of the opening of Indian markets. At 8:22 am, the SGX Nifty futures traded up 90.70 points – or 0.80 per cent – at 11,384.20.
Equities in other Asian markets rose on Friday after a technology stocks-driven rally on Wall Street in which the Nasdaq Composite index hit a record high despite downbeat data that affirmed the US central bank’s dour outlook on economic recovery.
MSCI’s broadest index of Asia Pacific shares outside Japan was last seen trading 0.72 per cent higher, while Japan’s Nikkei 225 benchmark was up 0.32 per cent.
Overnight in the US, gains in Apple, Amazon.com and Microsoft underpinned a rally in Wall Street’s three main indices as investors bet the tech giants would ride out the economic crisis.
Minutes from the Federal Reserve’s latest policy meeting gave a somber assessment of the US economy as it grapples with the coronavirus pandemic. The US central bank has ruled out more dovish easing policy measures for now.
