The domesic stock markets are likely to open firm, extending the gains witnessed in the past four trading sessions, going by positive early indications from SGX Nifty trading. Trends on SGX Nifty indicate a positive start for the broader index in India, with a gain of 34 points. At 7:30 am, the Nifty futures were trading at 13,778, higher by 34 points or 0.27 per cent on the Singapore Stock Exchange.
Asian stocks fell slightly on December 18, failing to catch a broader global rally as the investor mood in the region shifted to broader caution about the economic outlook and as post-Brexit worries weighed. Australian S&P/ASX 200 lost 0.46 per cent in early trading and Japan's Nikkei 225 fell 0.01 per cent; E-mini futures for the S&P 500 rose 0.01 per cent.
Wall Street's three main indexes closed at record highs on Thursday as investors grew more optimistic about a coronavirus stimulus bill, helping markets look past signs of economic strain brought on by the COVID-19 pandemic. Markets were encouraged that the United States stood ready to ship 5.9 million doses of a new coronavirus vaccine developed by Moderna Inc that is on the cusp on winning regulatory approval.
The Dow Jones Industrial Average rose 0.5 per cent, the S&P 500 gained 0.6 per cent and the Nasdaq Composite picked up another 0.8 per cent to its third-straight daily record.
Meanwhile, oil climbed on December 17 and touched a nine-month high, with traders optimistic about progress toward a US fiscal stimulus deal and record-breaking refining demand in China and India.
The S&P BSE Sensex and NSE Nifty 50 indexes had surged to new highs for fourth day in a row on Thursday, led by gains in HDFC, HDFC Bank, Tata Consultancy Services and Reliance Industries. The Sensex ended 224 points or 0.48 per cent higher at 46,890 and Nifty 50 index advanced 58 points to close at an all-time high of 13,741.