SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 39 points at the opening bell.
Global markets:
Overseas, Asian stocks are trading higher on Thursday, with shares of Chinese tech giant Alibaba in the spotlight following reports that Chinese regulators will probe the firm for suspected monopolistic behavior.
In US, the S&P 500 closed barely in positive territory on Wednesday as an expected stimulus deal and falling jobless claims prompted investors to put their money into sectors most likely to benefit from the economy re-opening when it recovers from the global health crisis.
The number of Americans filing first-time claims for unemployment benefits unexpectedly fell last week. Initial claims for state unemployment benefits totaled a seasonally adjusted 803,000 for the week ended December 19, compared to 892,000 in the prior week, the Labor Department said on Wednesday.
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Meanwhile, Britain and the European Union appeared close to clinching a long-elusive trade agreement on Wednesday. It comes after EU Chief Brexit Negotiator Michel Barnier said Tuesday that the bloc was making a final push to strike a Brexit trade deal with Britain ahead of December 31.
Domestic markets:
Back home, key domestic indices ended with strong gains on Wednesday, supported by rally in IT stocks. Positive global cues boosted sentiment. The BSE Sensex rallied 437.49 points or 0.95% to 46,444.18. The Nifty 50 index added 134.80 points or 1% to 13,601.10.
Foreign portfolio investors (FPIs) bought shares worth Rs 536.13 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,326.92 crore in the Indian equity market on 23 December, provisional data showed.
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