Sensex, Nifty Likely To Have A Strong Opening

Shares in Asia-Pacific were higher in Thursday morning trading; Hang Seng index was among the biggest gainers regionally, rising 1.19 per cent and Taiex gained 1.01 per cent

Sensex, Nifty Likely To Have A Strong Opening

At 7:30 am, the Nifty futures were trading higher by 1.2 per cent on Singapore Stock Exchange

The domestic stock markets are likely to open in the green on the back of positive global cues. Wall Street had a positive closing overnight, Asian markets have opened on a firm note and early indications from SGX Nifty futures trading suggest a strong opening for the indices back home. Trends on SGX Nifty indicate a gap-up opening for the Nifty, with a 125-points gain. At 7:30 am, the Nifty futures were trading at 15,736, higher by 125 points or 1.2 per cent, on the Singapore Stock Exchange.

Shares in Asia-Pacific were higher in Thursday morning trading, with markets in Japan closed for a holiday. Hong Kong's Hang Seng index was among the biggest gainers regionally, rising 1.19 per cent in early trade. The Taiex in Taiwan also gained 1.01 per cent.

Wall Street stocks posted their second straight daily gain on Wednesday, with robust corporate earnings and renewed optimism about the U.S. economic recovery fueling a risk-on rally.

The Dow Jones rose 0.83 per cent, the S&P 500 gained 0.82 per cent and Nasdaq Composite added 0.92 per cent.

On the corporate front, Hindustan Unilever, UltraTech Cement, Bajaj Auto, Biocon, Can Fin Homes, Chennai Petroleum Corporation and CSB Bank will declare their earnings during the day.

On Wednesday, the BSE Sensex was down 354.89 points at 52,198.51 and NSE Nifty declined 20.30 points to 15,632.10