Sensex, Nifty Set To Have A Mildly Positive Opening

The domestic stock markets are likely to open mildly in the positive, building on the momentum witnessed in the previous session, going by early indications from SGX Nifty trading. Trends on SGX Nifty indicate a positive opening for the index in India, with a 25-point gain. At 8.00 am, the Nifty futures were trading at 13,510.50, higher by 25 points or 0.17 per cent on the Singapore Stock Exchange.

Asian equities eased from a record high on Thursday as stalled U.S. stimulus talks and a sell-off in tech stocks weighed, while sterling traders sat on a knife's edge as last-ditch Brexit negotiations yielded only an agreement to keep talking. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.3 per cent, while Japan's Nikkei fell by the same margin. Both are up more than 60 per cent from March lows.

Overnight, US markets declined on Wednesday as negotiations over further U.S. fiscal stimulus dragged on and the dollar rose for a fourth straight session. The Dow Jones fell 105.07 points, or 0.35 per cent, to 30,068.81, the S&P 500 lost 29.43 points, or 0.79 per cent, to 3,672.82 and the Nasdaq Composite dropped 243.82 points, or 1.94 per cent, to 12,338.95. The S&P 500 had hit a record high early in the session.

Meanwhile, oil prices rose in early trade on Thursday, buoyed by a COVID-19 vaccine rollout in Britain and the imminent approval of a vaccine in the United States, which could spur a rebound in fuel demand, despite a large build in U.S. crude stocks last week.

U.S. West Texas Intermediate (WTI) crude futures rose 23 cents, or 0.5%, to $45.75 a barrel at 0200 GMT, while Brent crude futures climbed 21 cents, or 0.4%, to $49.07 a barrel. Prices were little changed overnight.

The Nifty continued its record-breaking run for the seventh straight session to touch yet another new high on Wednesday. The Sensex closed at 46,103.50, up 495 points, or 1.09 per cent, and the Nifty settled at 13,529.10, up 136 points, or 1.02 per cent.