The domestic stock markets are likely to open in the green after a day’s paused due to positive cues from across the global markets. Asian markets are looking up in early trading, Wall Street had a firm closing and early trends on SGX Nifty indicate a positive opening for the index in India, with a 74-points gain. At 7:30 am, the Nifty futures were trading at 14,254, higher by 74 points or 0.67 per cent on the Singapore Stock Exchange.
Asian stocks perked up on Thursday as investors remained confident that violence in Washington would not disrupt a legitimate transition to a new presidency or derail political support for a U.S. economic recovery.
However, investors remained defiantly bullish in early Asian trade with S&P 500 futures up 0.3%, Japan’s Nikkei 225 rising 1.24 per cent and the S&P/ASX 200 1.25 per cent higher.
The Dow and the S&P 500 ended higher, soaring to all-time highs on Wednesday, as investors piled into financial and industrial stocks on bets a Democratic sweep in Georgia would lead to more fiscal stimulus and infrastructure spending.
The Dow Jones Industrial Average closed 437.8 points higher, or 1.44 per cent to 30,829.4 and the S&P 500 gained 21.28 points, or 0.57 per cent, to 3,748.14; the Nasdaq Composite, however, dropped 78.17 points, or 0.61 per cent, to 12,740.79.
Meanwhile, oil prices were steady on Thursday after supporters of President Donald Trump marched into the U.S. Capitol, with investors focusing on the likelihood of tighter supplies after Saudi Arabia unilaterally agreed to cut output.
Brent crude was up 8 cents at $54.38 a barrel by 0125 GMT, after gaining 1.3 per cent overnight. U.S. West Texas Intermediate (WTI) gained 11 cents to $50.74, having slipped earlier in the Asian session. The contract rose 1.4 per cent on Wednesday.
On Wednesday, the markets had snapped a 10-day winning run, with the BSE Sensex declining 263.72 points to 48,174.06 and the Nifty50 slipping 53.20 points to 14,146.30.