Indian markets looked set to extend gains to the third consecutive day on Thursday, tracking cues from global peers, as SGX Nifty traded 75 points or 0.50% higher at 14,938 at around 7.25 am. However, the session could be marked by high volatility on account of weekly F&O expiry.
Besides global cues, development on the Covid-19 front is likely to sway the market mood. Keeping in view the rising virus cases, Prime Minister Narendra Modi will interact with chief ministers of states today to discuss the Covid-19 situation and the ongoing vaccination drive which will be keenly tracked by market participants.
Meanwhile, on the global market front, the S&P 500 and Dow closed slightly higher after minutes from the Federal Reserve’s latest meeting reiterated its commitment to keep interest rates low until the US economy makes a more secure recovery.
The Dow Jones Industrial Average rose 0.05%, the S&P 500 gained 0.15% and the Nasdaq Composite dropped 0.07%.
Most Asian equities tracked Wall Street's cautious gains and were up marginally. Australia’s S&P/ASX 200 Index rose 0.7%, Hong Kong's Hang Seng index added 0.43% while Japan's Nikkie 225 index shed 0.43%.