Domestic stock markets are likely to start the last session of the week on a negative note a day after benchmark indices jumped more than 1 per cent following four straight days of losses. The Singapore Exchange (SGX) Nifty futures - an early indicator of the National Stock Exchange (NSE) Nifty index - declined as much as 54.5 points to 12,091.50 ahead of the opening of Indian markets. At 8:30 am, the SGX Nifty futures were down 52.00 points - or 0.43 per cent - at 12,094.00.
Equities in other Asian markets edged up on Thursday, supported by a fall in coronavirus cases and expectations of more Chinese stimulus to offset the economic impact of the epidemic.
China is widely expected to cut its benchmark lending rate on Thursday, adding to a slew of fiscal and monetary measures in recent weeks aimed at cushioning the impact of coronavirus on its economy.
MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.1 per cent. Japan's Nikkei rallied 1.5 per cent.
The epicentre of the outbreak in China's Hubei reported just 349 new cases on Thursday, the lowest since Jan. 25, although it was accompanied by a change in diagnosis rules.
More than 2,100 people have died from the coronavirus in China, spreading to more than two dozen countries, and governments around the world are trying to prevent it from becoming a global pandemic.
On Wednesday, the S&P BSE Sensex index and the broader NSE Nifty 50 benchmark had risen 428.62 points - or 1.05 per cent - to end at 41,323.00 and 133.40 points - or 1.11 per cent - to settle at 12,125.90 respectively, backed by gains across most sectors.
The capital markets will remain shut on Friday for Mahashivratri.