The BSE Sensex and NSE Nifty are likely to open flat with positive bias on Thursday tracking SGX Nifty and global markets.
At 8.28 am (IST), SGX Nifty was up 3 points, or 0.04 per cent, at 8,202.
Asian stocks rose modestly on Thursday, taking their cue from gains on Wall Street as the region braced for a resumption of trading in the Chinese markets after a week-long break.
MSCI’s broadest index of Asia-Pacific shares outside Japan tacked on 0.3 per cent, supported by South Korea’s Kospi rising 0.5 per cent and Australian shares climbing 0.9 pe rcent. Japan’s Nikkei bucked the trend and lost 0.2 per cent on a stronger yen.
Overnight on Wall Street, the S&P 500 soared to a 3-week high thanks to a bounce in biotechnology companies.
Chinese stock markets, which have been hit by wild swings in recent months due to growth and policy worries, re-open later in the session after shutting since the end of September for holidays. Shanghai was up over 3 per cent in the morning trade.
Back home, domestic equity markets rose for a sixth consecutive trading session on Wednesday following positive global markets and strong rupee. The BSE Sensex gained 102.97 points or 0.38 per cent to 27,035.85 and NSE Nifty gained 24.50 points or 0.30 per cent to 8,177.40.
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