Domestic stock markets are likely to decline marginally after the rally seen in the previous session. Trends on SGX Nifty indicate a marginally negative opening for the domestic markets. Nifty futures were trading 27 points or 0.15 per cent lower at 17,791 on the Singapore Stock Exchange at 7:30 am.
Shares in Asia-Pacific were mixed in Wednesday’s trade after an overnight rally on Wall Street. In Japan, the Nikkei 225 shed 0.18 per cent in earlier gains and South Korea’s Kospi shed 0.46 per cent. The Topix index rose 0.4 per cent.
Wall Street rallied on Friday ahead of US payrolls data that could reveal the next step for the Federal Reserve to ease its support for the economy. The Dow Jones rose 0.92 per cent, the S&P 500 1.05 per cent and the Nasdaq Composite up 1.25 per cent.
Meanwhile, rating agency Moody’s downgraded India’s sovereign credit rating outlook to stable from negative, citing improvement in the financial sector and faster-than-expected economic recovery.
On October 5, the BSE Sensex climbed 445.56 points to 59,744.88 and the Nifty jumped 131 points to close at 17,822.30.