Domestic equity markets are expected to open on a cautious note, having hit lifetime highs in the previous trading session, according to early indications from SGX Nifty futures trading. Trends on SGX Nifty point to a cautious opening of the index in India, with a gain of 19 points. At 7:30 am, Nifty futures were trading at 14,592, a rise of 19 points, on the Singapore Stock Exchange.
Asian stocks made early trading gains on Thursday after a mixed session on Wall Street, bolstered by expectations of a U.S. stimulus package even as political events in Washington resulted in the impeachment of President Donald Trump.
Australian S & P / ASX 200 futures were up 0.21% to start trading, while Hong Kong Hang Seng index futures were up 0.23%.
The Wall Street S&P 500 benchmark closed slightly higher on Wednesday, with defensive sectors leading gains as investors awaited details of the upcoming U.S. fiscal stimulus package and Congress began impeachment hearings for President Donald Trump .
The Dow Jones Industrial Average fell 8.22 points, or 0.03%, to 31,060.47, the S&P 500 gained 8.65 points, or 0.23%, to 3,809.84 and the Nasdaq Composite added 56.52 points, or 0.43%, at 13,128.95.
On the profit front, Infosys announced a 16.6% increase in profit for the quarter from October to December and raised its forecast for annual revenue growth after market hours on Wednesday. Consolidated net profit of the Bengaluru-based company climbed to Rs 5,197 crore from Rs 4,457 crore a year earlier, beating Street estimates.
Meanwhile, oil prices dipped for a second day on Thursday as surging coronavirus cases around the world raised concerns about demand, although a drop in U.S. crude inventories for a fifth straight week has capped losses.
Brent crude oil futures plunged 5 cents, or 0.1%, to $ 56.01 a barrel at 0124 GMT, while the U.S. West Texas Intermediate (WTI) fell 1 cent to $ 52.90 per barrel.
The benchmarks BSE Sensex and NSE Nifty ended largely unchanged on Wednesday, after a record 12-day streak. The BSE Sensex swirled 722 points from an intraday high of 49,795.19 to a low of 49,073.85 before ending the session at 49,492.32, down 24.79 points, while the NSE Nifty finished at 14,564.85, up one point.