The domestic markets are likely to open flat, following mixed Asian cues amid escalating tensions between the US and China. Trends on SGX Nifty indicate a positive bias for the index in India, with a 14 points gain. At 07:30 am, the Nifty futures were trading at 11,144, higher by 14 points or 0.1 per cent, on the Singapore Stock Exchange.
Asian stocks were likely to come under pressure on Thursday as fresh diplomatic tensions between Washington and Beijing heightened investor jitters and overshadowed the boost to Wall Street from US stimulus hopes.
In early Asian trade, Japan's Nikkei 225 futures lost 0.02 per cent while Hong Kong's Hang Seng index futures fell 0.05 per cent. Australian S&P/ASX 200 futures rose 0.12 per cent and E-mini futures for the S&P 500 were up 0.13 per cent.
Wall Street ended higher on Wednesday after a see-saw session as investors digested mixed quarterly results and contentious stimulus negotiations in Washington.
The Dow Jones rose 0.62 per cent, the S&P 500 gained 0.57 per cent and Nasdaq Composite added 0.24 per cent.
Meanwhile, oil prices lost more ground on Thursday, with the market weighed down by a surprise increase in U.S. crude oil reserves as the coronavirus pandemic hits fuel consumption.
Brent crude fell 4 cents, or 0.1 per cent, to $44.25 a barrel by 0026 GMT while U.S. West Texas Intermediate (WTI) crude slid 6 cents, or 0.1 per cent, to $41.84 a barrel.
Speciality chemical maker Rossari Biotech is set to debut on bourses on July 23. Rossari Biotech will be the first to list during the lockdown and the second to debut after SBI Card IPO in March this year.
On the quarterly earnings front, ABB India, Biocon, HDFC Asset Management Company, Mphasis and PNB Housing Finance are among the major companies to announce their results during the day
Equity benchmarks S&P BSE Sensex and NSE Nifty 50 had snapped their five-day winning streak on Wednesday as rising COVID-19 cases dented investors' sentiment. The Sensex ended 59 points or 0.16 per cent lower at 37,872 and Nifty 50 index declined 30 points or 0.27 per cent to close at 11,133.
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