Domestic stock markets are expected to strengthen due to cautious positive signals from the global market front. Wall Street recorded modest gains overnight, Asian markets are set for a modest positive start and early signs from SGX Nifty futures trading back home suggest a healthy start for the indices. At 7:30 am, the Nifty futures on the Singapore Stock Exchange was trading at 14,929 levels, up 65 points or 0.57 percent.
Asian equities are praised for tracking Wall Street’s cautious gains on Thursday after minutes from the latest meeting of the Federal Reserve, reiterating its commitment to keep interest rates low until the US economy makes a more secure recovery She goes.
Australian S&P / ASX 200 futures rose 0.52 per cent in early trade, while Japan’s Nikkei 225 futures rose 0.03 per cent.
The key average hovered near unchanged on Wednesday, after the Federal Reserve released minutes from its most recent meeting after closing with the S&P 500, which conditioned the US central bank to remain patient before raising rates. shored up.
The Dow Jones gained 16.02 points or 0.05 percent to 33,446.26, the S&P 500 rose 6.01 points, or 0.15 percent, to 4,079.95 and the Nasdaq Composite fell 9.54 points, or 0.07 percent, to 13,688.84.
Meanwhile, oil futures rose to higher levels on Wednesday as global economic outlook improved, but rising discoveries of gasoline led to gains and fears that a new coronovirus outbreak would lead to a global decline in fuel demand.
Brent crude futures gained $ 63.16 a barrel, 42 cents or 0.7 percent, and US West Texas Intermediate crude at $ 59.77 a barrel, 44 cents or 0.7 percent.
The BSE Sensex gained 460.37 points and the Nifty climbed 135.50 points on Wednesday after keeping key policy rates unchanged in the first monetary policy for FY 2022.