Positive start likely amid encouraging cues from Asian peers

Key benchmarks are likely to witness a modestly positive opening following positive leads from Asian peers. The Nifty 50 index futures on the Singapore stock exchange are currently trading with modest gains of 14 points at 10,805.  

Most of the Asian stock markets are trading in the green territory on Thursday as global markets took a breather, after the elevated trade tension between the world’s two largest economies had triggered a sell-off earlier this week. Japan’s Nikkei 225 index has gained 0.81%, Hong Kong’s Hang Seng has surged 0.56% and the Shanghai Composite has moved higher by 0.55%. 

Back home, the frontline indices posted decent gains on Wednesday and managed to recapture their crucial levels of 35,500 (Sensex ) and 10,750 (Nifty). The broader indices of Mid-cap and Small-cap also fared well as these registered gains of 0.51% and 0.55%, respectively. On the sectoral front, majority of the sectors ended the day in the green with Nifty Pvt Bank gaining 1.16%, while Nifty FMCG, Nifty IT and Nifty PSU Bank ended in the red with losses of 0.46%, 0.28% and 0.07%, respectively. 

The US stock market indices closed Wednesday’s session mostly higher, with the tech-heavy Nasdaq reaching a new record closing and, on the other hand, the Dow extending the recent losing streak to the seven straight session. The Nasdaq jumped 56 points to close at 7,782 and the S&P 500 rose 5 points to finish at 2,767, while the Dow Jones Industrial Average edged down by 42 points to end at 24,658. 

A majority of the European stock markets ended Wednesday’s session with modest gains. The DAX of Germany added 0.14%, but the CAC 40 of France slipped 0.34% and the FTSE 100 gained 0.31%. The traders are looking forward to announcement from the Bank of England due on Thursday.