The Indian equity benchmarks are likely to open on a positive note on Thursday as indicated by the Nifty futures traded on the Singapore Exchange. The SGX index was trading 27 points or 0.15 per cent higher at 18,017.
On Wednesday, while the Sensex settled 224 points lower at 60,346, the Nifty 50 index was trading at 66.30 points lower at 18,003.
Here are key things to know before the markets open on Thursday.
US Markets
The US stocks traded moderately higher on Wednesday, a day after the market witnessed its worst drop in two years. The S&P500 index was trading 13.32 points or 0.3 per cent higher at 3,946, whereas the Dow Jones Industrial Average surged 30.12 points or 0.1 per cent to 31,135. While the Nasdaq rose 86.10 points or 0.7 per cent to 11,719, the Russell 2000 for smaller companies surged 6.89 points or 0.4 per cent higher at 1,838.
Asian Markets
The Asian stocks were trading higher on Thursday. Tokyo’s Nikkei 225 surged moderately at 0.34 per cent, whereas South Korea’s KOSPI was trading 0.22 per cent higher. Singapore’s Hang Seng index surged 0.29 per cent. China’s Shanghai Composite was trading 0.29 per cent lower, whereas Shenzhen Component was trading moderately lower at 0.09 per cent.
FII and DII Data
The foreign institutional investors remained the net sellers worth Rs 1,397 crore, whereas the domestic institutional investors bought shares worth Rs 187 crore.
Crude Oil and Gold Prices
Crude oil edged higher on Thursday. Brent crude futures surged 38 cents or 0.4 per cent higher at $94.48 per barrel by 0013 GMT whereas US West Texas Intermediate was trading 46 cents or 0.5 per cent higher at $88.94.
Gold prices inched lower on Thursday amidst anticipation of interest rate hikes by the US Federal Reserve to curtail inflation. While the Spot gold was trading 0.1 per cent lower at $1,693 per ounce at 0110 GMT, the US gold futures slipped 0.3 per cent to $1,704.
Stocks To Watch
Tata Steel– The company’s board has approved funds to raise through the issue of non-convertible debentures up to Rs 2,000 crore in two tranches. While the company raised Rs 500 crore in the first tranch, it raised Rs 1,500 crore in the second tranch.
Tamilnad Mercantile Bank– The private lender will make its Dalal Street debut on Thursday. It has raised Rs 831 crore through initial public offering (IPO) between September 5 to September 7 and sold shares in the range of Rs 500 to Rs 525.
