Indian equity benchmarks are poised to create a gap in which the Nifty is seen to open above its psychologically important 14,900 level. Nifty futures on the Singapore Stock Exchange, also known as the name SGX Nifty, rose 120 points, or 0.8 percent to 14,965. Meanwhile, Asian stocks rose at the start of trading on Thursday after the US Federal Reserve said it was too early to consider cutting emergency support for the economy, and as US President Joe Biden unveiled plans for a $ 1.8 trillion stimulus package.
Fed Chairman Jerome Powell said on Wednesday that “it is not yet time” to start discussing any policy changes after the US central bank left interest rates and its program of purchase of bonds unchanged, despite a more optimistic view of the country’s economic recovery.
At the start of the Asian trading day, the MSCI’s largest Asia-Pacific stock index outside of Japan was up 0.1 percent.
The Australian S & P / ASX 200 edged up 0.31% as strong oil prices pushed energy stocks higher.
China’s blue-chip CSI300 index was 0.65% higher at the start of trading. Hong Kong’s Hang Seng Index rose 0.7%, Seoul’s KOSPI 0.37%, and Taiwan stocks 0.48%.
Japanese markets were closed for a holiday, but futures on Nikkei edged up 0.05% to 28,970.
Tech stocks were boosted after Apple Inc on Wednesday reported sales and profits above Wall Street expectations, although it warned that a global chip shortage could reduce iPad and Mac sales by several billion dollars.
Futures on Nasdaq rose 0.79% and futures on e-mini S&P added 0.48% after Wall Street ended lower on Wednesday. The Dow Jones Industrial Average fell 0.48% to end at 33,820.38 points, while the S&P 500 lost 0.08% to 4,183.18.
Back home, Bajaj Auto and Hindustan Unilevr will be the focus ahead of their March quarter results.