Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 10 points at the opening bell.
Overseas, Asian stocks were trading higher on Thursday as optimism over the economic recovery from the coronavirus pandemic continued to keep investor sentiment afloat.
In US, Wall Street rallied broadly on Wednesday with the Nasdaq approaching record highs as signs of an economic recovery from mandated shutdowns helped investors look beyond US social unrest and pandemic worries.
The Dow Jones Industrial Average rose 527.24 points, or 2.05%, to 26,269.89, the S&P 500 gained 42.05 points, or 1.36%, to 3,122.87 and the Nasdaq Composite added 74.54 points, or 0.78%, to 9,682.91. The Nasdaq Composite Index is just 1.4% away from its all-time closing high of 9,817.18 in February.
Back home, domestic shares extended their winning streak to sixth straight session on Wednesday. Global cues were supportive as hopes of more stimulus and further easing in social restrictions around the world surpassed coronavirus fears. The barometer S&P BSE Sensex jumped 284.01 points or 0.84% at 34,109.54. The Nifty 50 index soared 82.45 points or 0.83% at 10,061.55. Both these indices rose over 11% in six trading sessions.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,851.12 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 781.79 crore in the Indian equity market on 3 June 2020, provisional data showed.
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