Indian shares look set to open higher on Thursday, though volatility cannot be ruled out amid the expiration of weekly F&O contracts and ahead of a holiday on Friday for Dussehra.
IT stocks could be in focus as Infosys beat Street estimates on all the fronts and raised its annual revenue guidance. Wipro posted a 9.6 percent decline in Q2 profit, but earnings grew by 18.9 percent sequentially.
MindTree posted a 57.2 percent increase in net profit in the second quarter ended September.
Benchmark indexes Sensex and the Nifty jumped 0.8 percent and 0.9 percent, respectively to hit fresh record highs on Wednesday while the rupee rebounded by 15 paise to close at 75.37 against the greenback.
Asian markets were mostly higher this morning following the release of China’s inflation data for September.
Consumer price inflation softened last month while factory-gate inflation soared to the highest level in almost 26 years, boosted by soaring prices of raw materials.
U.S. stocks ended broadly higher overnight after data showed consumer prices rose by slightly more than expected in September and the minutes of the Fed’s September meeting showed central bankers discussed an illustrative tapering path to gradually scale back asset purchases.
The tech-heavy Nasdaq Composite climbed 0.7 percent and the S&P 500 rose 0.3 percent while the Dow ended flat with a negative bias.
European stocks advanced on Wednesday as investors cheered fairly strong earnings updates and positive exports data from China.
The pan European Stoxx 600 rose 0.7 percent. The German DAX gained 0.7 percent, France’s CAC 40 index added 0.8 percent and the U.K.’s FTSE 100 edged up 0.2 percent.
Sensex, Nifty Seen Higher At Open
2021-10-14 03:05:37