Asian stock markets mostly opened higher on Thursday, adding to Wall Street gains as Republicans in the US Congress offered a compromise in high-risk talks to lift the debt ceiling. U.S. MSCI’s broader index for Asia Pacific stocks outside of Japan rose 1.30 percent.
Domestic stocks could start a gap higher on Thursday as concerns about US debt default and rising inflation ease. Oil prices fell on the second day while the dollar remained in a range. Asian markets got off to a strong start after a positive closing price for US stocks overnight. Domestic investors eagerly awaited the outcome of the RBI MPC meeting on Friday. These are the pre-trade measures:
STATUS OF THE MARKETS
SGX Nifty indicates an onset of gap-up
Nifty futures on the Singapore Stock Exchange traded 146 points, or 0.83 percent, higher at 17,774.50 , suggesting that Dalal Street is heading towards a gap-up start on Thursday.
Technical view: Nifty50 formed a bearish engulfing pattern on Wednesday’s daily chart. This reflected that the bears now have the upper hand in the uncertain market.
India VIX: The fear indicator jumped around 6 percent on Wednesday to 17.33 above its closing price of 16.40 on Tuesday. 4,444 Asian stocks were higher in early trading. Asian stock markets opened mostly higher on Thursday, expanding gains on Wall Street as Republicans in the US Congress offered a compromise in high-risk negotiations to lift the US debt ceiling. MSCI’s broader index for Asia Pacific stocks outside of Japan rose 1.30 percent.