Domestic equity markets are likely to open higher tracking SGX Nifty and strong global cues.
At 8.29 am (IST), SGX Nifty was up 94.50 points, or 1.20 per cent, at 7,880.
Asian stocks rose on Thursday as a sharp rebound on Wall Street helped soothe investors’ tattered nerves, while the dollar rallied as risk aversion eased. Shanghai Composite Index, Nikkei and Hang Seng were up 0.95 per cent, 1.89 per cent and 2.39 per cent at 2,955.22, 18724.31 and 21,584.98, respectively.
The Dow jumped 4 per cent and the S&P 500 rose 3.9 per cent.
On Wednesday, the BSE Sensex and NSE Nifty closed over 1 per cent lower at 25,715 and 7,792, respectively.
Alex Mathews, head research, Geojit BNP Paribas Financial Services, said “Short covering is expected on Thursday due to August F&O expiry.”
(With inputs from agencies)