Gap-Up Opening Likely For Sensex, Nifty Today

Analysts say the markets are expected to consolidate with the possibility of bouts of volatility in the near term.

Gap-Up Opening Likely For Sensex, Nifty Today

Analysts say the markets are expected to move sideways

Domestic stock markets are likely to start Friday's session on a sharply positive note, ahead of the Reserve Bank of India's address to the media due at 10 am. The Singapore Exchange (SGX) Nifty futures - an early indicator of the National Stock Exchange (NSE) Nifty index - climbed up as much as 233.75 points to touch 9,293.75 ahead of the opening of Indian markets. At 7:54 am, the SGX Nifty futures were up 201.50 points - or 2.22 per cent - at 9,261.50. Analysts say the markets are expected to move sideways with the possibility of bouts of volatility in the near term.

RBI Governor Shaktikanta Das is scheduled to address a press conference at 10 am.

Equities in other Asian markets surged with MSCI's broadest index of Asia Pacific shares outside Japan last seen trading 2.28 per cent higher while Japan's Nikkei 225 benchmark was up 2.55 per cent.

Overnight in the US, Wall Street ended a volatile day higher. The S&P 500, Nasdaq Composite and Dow Jones Industrial Average indices ended 0.58 per cent, 1.66 per cent and 0.14 per cent respectively. 

On Thursday, the S&P BSE Sensex index had ended 222.80 points - or 0.73 per cent - higher at 30,602.61 and the broader NSE Nifty benchmark settled at 8,992.80, up 67.50 points - or 0.76 per cent - from the previous close. 

Earlier this week, the government extended a 21-day nationwide lockdown by another 19 days to curb the spread of the coronavirus (COVID-19) pandemic.