Asian markets headed towards a positive opening on Thursday after the U.S. shares snapped its two-day losing streak.
Equity benchmarks in Australia and South Korea rose less than 1%, while Japanese stocks fluctuated. The S&P 500 rose 0.8% and Treasuries rallied for a second day to close at 3.70%. The dollar weakened.
At 6:07 a.m., the Singapore-traded SGX Nifty, an early indicator of India’s benchmark Nifty 50, was up 0.26% to 18,158.5.
Meanwhile, yield on 10-year Treasuries fell three basis points to 3.70%.
Crude price was down nearly 5% amid demand concerns arising from longer-than-expected recovery in China.
Domestic indices ended their two-day rally to end 1% lower, with the market breadth skewed in favour of bears.
Overseas investors were net sellers of Indian equities for the ninth day in a row on Wednesday. Foreign portfolio investors net sold Indian equities worth Rs 2620.89 crore, while domestic institutional investors continued mopped up equities worth Rs 773.58 crore of Indian stocks.
Rupee maintained its strong start against the U.S. dollar from earlier in the day to close in the green after two consecutive days of losses.
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