Dalal St Likely to Open on a Positive Note; Factors Affecting Nifty50 on Dec 23

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Dalal St Likely to Open on a Positive Note; Factors Affecting Nifty50 on Dec 23
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , was found trading 0.55% higher at 7:27 am on Thursday, indicating Dalal Street to open on a positive note. At the same time, the Dow Jones Futures was up 0.03%.

The three major indices of Wall Street closed broadly higher, after shedding some points in early trade on Wednesday. The indices closed in green ahead of the holiday season, led by significant gains made by technology and retail scrips.

While concerns loom over rising Omicron cases, the market appeared to be somewhat convinced that it would not lead to another lockdown, thus shrugging off prevalent fears.

The tech-heavy Nasdaq Composite advanced 1.18%, Dow Jones rose 0.74%, and the broad stock-market gauge S&P 500 ended 1.02% higher on Wednesday.

Stocks across the Asian markets opened higher on Thursday, backed by positive cues from Wall Street, and bets that economic recovery will compensate for temporary disruptions in the market from the prevailing Omicron variant.

At 7:34 am on Thursday, MSCI's broadest index of Asia-Pacific shares outside Japan was trading 0.57% higher. South Korea's KOSPI was up 0.31%, while Japan’s Nikkei 225 was 0.3% higher.

At the same time, Hong Kong’s Hang Seng Index was trading 0.44% higher, and China's Shanghai Composite was marginally low by 0.06%.

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