Sensex, Nifty Likely To Open Flat

Domestic stock markets are likely to start Wednesday's session on a lacklustre note as the country remained in an extended lockdown, with few exceptions, to curb the spread of the coronavirus (COVID-19) pandemic. The Singapore Exchange (SGX) Nifty futures - an early indicator of the National Stock Exchange (NSE) Nifty 50 index - moved less than half a per cent in either direction before turning flat. At 8:02 am, the SGX Nifty futures traded down 6.85 points (0.07 per cent) at 9,201.75, ahead of the opening of Indian markets.

Stocks in Asia Pacific were mixed in Wednesday morning trade as oil prices retraced some of their overnight gains. MSCI Asia ex-Japan index traded 0.4 per cent higher while Australia's S&P/ASX 200 slipped 0.7 per cent. Markets in Japan and Thailand are closed on Wednesday for holidays.

Wall Street's indexes rallied on Tuesday as healthcare stocks jumped, oil prices surged and a number of countries and US states eased coronavirus-induced restrictions in an attempt to revive their economies. The Dow Jones Industrial Average rose 1.5 per cent, S&P 500 gained 1.7 per cent and Nasdaq Composite added 2 per cent.

Oil prices soared on Tuesday, as some European and Asian countries along with several US states began to ease coronavirus lockdown measures. International benchmark Brent crude rose $3.77, or 13.9 per cent to settle at $30.97 a barrel. US West Texas Intermediate (WTI) crude futures gained $4.17, or 20.5 per cent, to close at $24.56 a barrel.

Private sector lender Yes Bank is due to report its financial results for the quarter ended March 31 later in the day. 

On Tuesday, the S&P BSE Sensex index ended 261.84 points - or 0.83 per cent - lower at 31,453.51 and the broader NSE Nifty 50 benchmark settled at 9,205.60, down 87.90 points (0.95 per cent) from the previous close, as the markets ended a volatile session on a negative note.