Indian equity benchmarks are set to open higher in trade on Thursday as indicated by the Nifty futures traded on Singapore Exchange. The SGX Nifty futures rose 0.35 per cent to 15,248.
Chinese shares rose on Thursday during the first trading session after the week-long Lunar New Year holiday amid renewed optimism for an acceleration in global growth, but other Asian markets were hit by profit-taking.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.15 per cent but was still close to an all-time high. Shares in China rose 0.77 per cent. Australian stocks erased gains to trade 0.05 per cent lower, while Japan’s Nikkei was unchanged.
E-mini futures for the S&P 500 fell 0.04 per cent.
Overnight, gauge of global equity markets pulled back on Wednesday from the record high hit in the previous session as investors sold technology-related companies and the prospect of rising inflation tempered optimism around a vaccine-led global economic recovery.
Data on Wednesday showed U.S. retail sales rebounded sharply in January after households received additional pandemic relief money from the government, suggesting a pick-up in economic activity after the restraints imposed by a fresh wave of COVID-19 infections late last year.
Back home, Bharti Airtel will be in focus after the company said it will acquire 20 per cent stake in its DTH arm Bharti Telemedia from an affiliate of Warburg Pincus for about Rs 3,126 crore.
Phillips Carbon Black has commissioned two specialty black lines at Palej in Gujarat for production of wide range of specialty black products totalling about 32,000 MTPA to service the growing needs of its customers.
In yesterday’s session, Sensex slumped 400 points and Nifty settled at 15,209 owing to weakness in private sector banking and information technology shares.