Domestic stock markets are likely to open on a flat note on Thursday amid weakness in Asian peers, after three days of losses in which the benchmark indices declined 2 per cent. The Singapore Exchange (SGX) Nifty futures - an early indicator of the National Stock Exchange (NSE) Nifty index - remained nearly unchanged ahead of the opening of Indian markets, moving within a range of 23.5 points between 12,129.00 and 12,152.50 from their previous close of 12,140. At 8:30 am, the SGX Nifty futures were flat at 12,140.00.
Analysts awaited financial results by large cap companies for cues in the near term.
Bank of Baroda, JSW Steel, UltraTech Cement and ICICI Bank will report their earnings for the quarter ended December 31 this week.
Equities in Asian markets fell on Thursday as investors remained anxious about the spread of a new flu-like virus in China just as millions prepared to travel for the Lunar New Year.
MSCI's broadest index of Asia-Pacific shares outside Japan was last seen trading 0.45 per cent lower. Blue chip Chinese shares fell 0.91 per cent, while Japan's Nikkei stock index was down 0.6 per cent. US stock futures in Asia fell 0.02 per cent.
Oil futures tumbled to seven-week lows amid warning of an oil surplus by the International Energy Agency. Brent crude futures - the benchmark for crude oil - slumped 1.55 per cent to $62.26 per barrel - their lowest level recorded since December 4.
On Wednesday, the S&P BSE Sensex index declined 208.43 points - or 0.50 per cent - to end at 41,115.38 and the broader NSE Nifty benchmark settled at 12,106.90, down 62.95 points - or 0.52 per cent - from its previous close. That marked a third straight day of losses for the benchmark indices, a period in which the Sensex lost 829.99 points or 1.98 per cent.