A cautious view is advisable for the day!

Indian markets may open on a cautious note on Thursday and could see some volatile moves as the day progress on the back of weekly option expiry and also, a long weekend coming up. SGX Nifty is indicating a flat to negative start as its down by almost 40 points and trading at 12,106 levels. 

In Asia, the stock markets have been mixed on Thursday as it still digests the impact of the virus pandemic. Japan’s Nikkei 225 has surged 0.87 and China’s Shanghai Composite rallied 0.28 per cent. On flipside, Hong Kong’s Hang Seng slid 0.61 per cent.

Back home, four successive days of fall markets rallied over a per cent to close near the day’s high on Wednesday. Sentiments on D-street were upbeat on the back of decline in the number of new Coronavirus cases in China, which helped ease tension triggered by warning of tech giant Apple. Nifty closed at 12,126 up by 1.11 per cent and BSE Sensex settled at 41,323 up by 1.05 per cent. Broader market indices like Nifty Mid-cap and Small-cap indices gained more thereby, outperforming the frontline gauges. Nifty Mid-cap and Small-cap ended higher by 1.48 and 1.28 per cent, respectively. All the sectoral indices ended in green. Nifty Pharma and Nifty Media were the top gainers.

In overnight developments, all three of the main US stock market indices ended in green on Wednesday as worries over Coronavirus subsidies on the heels of a report that China’s state-owned enterprises are getting back on track, as the number of new cases fell for the second-straight day. Meanwhile, the economic data was supportive as well. The tech-heavy Nasdaq and S&P 500 reached at new record closing highs. While, S&P 500 closed with gains of half a per cent. Stocks in European region were also buoyant.