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Sensex, Nifty Poised For A Gap-Up Opening

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At 7:30 am, the Nifty futures were trading higher by 1.5 percent on Singapore Stock ExchangeThe domestic stock markets are most likely to have a gap-up opening, buoyed by the strong closing on Wall Street on Wednesday after the Federal Reserve said that the US economy is heading for its strongest growth in almost 40 years.

Patterns on SGX Nifty suggest a gap-up opening for the index in India, with a 164-points gain.

At 7:30 am, the Nifty futures were trading at 14,935, greater by 164 points or 1.5 percent on the Singapore Stock Exchange.Asian stocks were set for modest gains on Thursday after the Federal Reserve pledged to keep financial policy and rates the same and forecasted a fast dive in U.S.

economic growth this year as the COVID-19 crisis eases.Japan's Nikkei 225 futures added 0.12 percent and Hong Kong's Hang Seng index futures rose 0.68 percent.

E-mini futures for the S-P 500 increased 0.08 per cent.Overnight, the Dow Jones Industrial Average and S-P 500 closed at record highs after the Fed anticipated a fast financial recovery from the coronavirus pandemic and stated it would maintain its rates of interest at near zero.The Dow Jones closed above 33,000 points for the first time, increasing 0.58 per cent to end at 33,015.37 points, while the S-P 500 acquired 0.29 per cent to 3,974.12 and Nasdaq Composite climbed up 0.4 percent to 13,525.20.

On the other hand, oil rates dropped for a 5th day on Thursday after official information showed a continual increase in U.S.

crude and fuel stocks, while the ever-present pandemic clouded the demand outlook.Brent crude was down 12 cents, or 0.2 per cent, at $67.88 a barrel after coming by 0.6 percent on Wednesday.

U.S.

oil was also down 12 cents or 0.2 percent at $64.48 a barrel, having actually fallen 0.3 per cent in the previous session.On Wednesday, the benchmark indices fell for the 4th successive session amid selling in banking, financials, automobile, metals and pharma counters.

The S-P BSE Sensex decreased 562.34 points or 1.12 per cent to close at 49,801.62 and the Nifty dropped 189.20 points or 1.27 per cent to 14,721.30.




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