The BSE Sensex and NSE Nifty are likely to open in green on Thursday tracking SGX Nifty and firm global markets.
At 8.19 am (IST), SGX Nifty was up 66 points, or 0.85 per cent, at 7,791.
Asian share markets rose on Thursday as Wall Street bounced on expectations the Federal Reserve would be confident enough of the US economy to raise rates in December but would then proceed with great caution on further tightening. Hang Seng, Nikkei and Shanghai were up 1.32 per cent, 1.36 per cent and 0.50 per cent, respectively.
The Dow Jones Industrial Average index closed with a gain of 1.43 percent on Wednesday, while the S&P 500 added 1.62 per cent and the Nasdaq 1.79 per cent.
Back home, equity markets bore the brunt of a worsening global risk environment as the benchmark BSE Sensex on Wednesday snapped its 2-day rally and fell almost 382 points to close at over a 2-month low of 25,482.52.
In addition, lacklustre September quarterly earnings kept investors cautious, who looked forward to US Fed minutes of the last policy meeting to decide on their future course of action. Bouts of profit-booking following recent gains and sustained capital outflows dampened stocks further, brokers said.
The 50-share NSE Nifty broke below the 7,800-mark and ended at 7,731.80, down 105.75 points, or 1.35 per cent.
Shares of Hero MotoCorp and Coal India will remain in focus on Thursday. Hero Moto has clocked over 10 lakh units in retail sales during the festive season this year.
Employee unions at Coal India on Wednesday opposed the government’s decision to sell 10 per cent stake in the miner, with one of the trade unions threatening to go on strike against the divestment.
(With inputs from agencies)