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Overseas, most Asian stocks traded higher as investors look ahead to the US jobs report due later this week for clues about how long the Fed will stay on hold.
SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall around 8 points at the opening bell.
Global markets: Overseas, most Asian stocks traded higher as investors look ahead to the US jobs report due later this week for clues about how long the Fed will stay on hold. The US jobs report — one of the most influential economic reports in global financial markets — for April is due on Friday.
US stocks rebounded on Wednesday as strong earnings results and economic optimism pushed the Dow Jones Industrial Average to a record high.
The Biden administration announced Wednesday that it supports waiving intellectual patent protections for Covid-19 vaccines, as countries struggle to manufacture the life-saving doses.
Domestic markets: Back home, benchmark indices ended with strong gains on Wednesday after the Reserve Bank of India (RBI) announced measures to tackle the rising second wave of Covid-19 pandemic. The S&P BSE Sensex, rallied 424.04 points or 0.88% to 48,677.55. The Nifty 50 index gained 121.35 points or 0.84% to 14,617.85.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,110.50 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 240.61 crore in the Indian equity market on 5 May, provisional data showed.
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