The Indian equity benchmarks are set to stage a gap up opening wherein the Nifty is seen opening above its important psychological level of 14,900. The Nifty futures on Singapore Exchange also known as SGX Nifty rose 120 points or 0.8 per cent to 14,965. Meanwhile, Asian shares rose in early trade on Thursday after the U.S. Federal Reserve said it was too early to consider rolling back emergency support for the economy, and as U.S. President Joe Biden unveiled plans for a $1.8 trillion stimulus package.
Fed Chair Jerome Powell said on Wednesday that “it is not time yet” to begin discussing any change in policy after the U.S. central bank left interest rates and its bond-buying programme unchanged, despite taking a more optimistic view of the country’s economic recovery.
Early in the Asian trading day, MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.1 per cent.
Australia’s S&P/ASX 200 edged up 0.31 per cent, as strong oil prices lifted energy stocks.
China’s blue-chip CSI300 index was 0.65 per cent higher in early trade. Hong Kong’s Hang Seng index opened up 0.7 per cent, Seoul’s KOSPI added 0.37 per cent and Taiwan shares rose 0.48 per cent.
Markets in Japan were closed for a holiday but Nikkei futures edged 0.05 per cent higher to 28,970.
Tech shares got a boost after Apple Inc on Wednesday posted sales and profits ahead of Wall Street expectations, though it warned a global chip shortage could dent iPad and Mac sales by several billion dollars.
Nasdaq futures were 0.79 per cent higher and S&P e-mini futures added 0.48 per cent after Wall Street ended lower on Wednesday. The Dow Jones Industrial Average fell 0.48 per cent to end at 33,820.38 points, while the S&P 500 lost 0.08 per cent to 4,183.18.
Back home, Bajaj Auto and Hindustan Unilevr wiill be in focus ahead of their March quarter earnings.
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