Sensex, Nifty likely to strengthen

Nifty futures were trading 1.2 per cent higher on the Singapore Stock Exchange at 7:30 am.

The domestic stock market is likely to open in the green amid positive global cues. Wall Street closed on a positive note overnight, Asian markets opened higher and early SGX Nifty futures trading signals suggest a strong start for the indices back home. Trends on SGX Nifty indicate a gap-up opening for Nifty with a gain of 125 points. Nifty futures were trading 125 points or 1.2 per cent higher at 15,736 on the Singapore Stock Exchange at 7:30 am.

Asia-Pacific shares were higher in Thursday morning trade, with markets in Japan closed for a holiday. Hong Kong’s Hang Seng index was the biggest gainer at the regional level, rising 1.19 per cent in early trade. Taix in Taiwan also rose 1.01 per cent.

Wall Street shares posted their second straight daily gain on Wednesday, fueled by strong corporate earnings and a risk-on rally with renewed optimism about the US economic recovery.

The Dow Jones gained 0.83 per cent, the S&P 500 0.82 per cent and the Nasdaq Composite 0.92 per cent.

On the corporate front, Hindustan Unilever, UltraTech Cement, Bajaj Auto, Biocon, Can Fin Homes, Chennai Petroleum Corporation and CSB Bank will announce their earnings during the day.

On Wednesday, the BSE Sensex was down 354.89 points at 52,198.51 and the NSE Nifty was down 20.30 points at 15,632.10.

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