Good Morning!
Indian equities not only reversed losses, but also ended at new highs on Thursday, extending their gains for the fourth straight day.
The S&P BSE Sensex closed above 50,000 for the first time, while the Nifty 50 index is now just 100 points away from scaling 15,000.
So far this week, the Sensex and Nifty have gained more than 9.5%, and are poised for their best weekly advance in 10 months.
Futures are indicating a positive start to Friday’s session as well. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.4% to 14,970 as of 7:55 a.m.
Hero MotoCorp, Brigade Enterprises, Tata Power, among others, may react to their quarterly results reported after market hours on Thursday.
Britannia Industries and Mahindra & Mahindra are the only two Nifty 50 companies that will report results today, along with broader market stocks like Aditya Birla Capital, Gujarat Gas, Gulf Oil Lubricants, Punjab National Bank, Shipping Corporation, Jamna Auto, among others.
Asian equities are trading higher on the final trading day of the week with Japanese and Hong Kong equities outperforming. Futures on the Dow Jones reversed losses and are now trading 50 points higher.
West Texas Intermediate crude rose 0.7% to $56.65 per barrel, while gold was little changed at $1,797/Oz.