Indian shares look set to extend gains from the previous session on Friday as oil dipped on a stronger dollar and Asian markets climbed for a second day running, buoyed by a weaker yen and optimism for the passage of the U.S. tax bill through the Senate.
Benchmark indexes Sensex and the Nifty rose over 1 percent each on Thursday as firm global cues and a steep fall in oil prices spurred investors to go bargain hunting after last week's heavy losses. The rupee, however, fell by 5 paise to end at a near two-week low of 64.57 per dollar.
Japan's Nikkei index is currently up over 1 percent while gains remained modest elsewhere across Asia ahead of key data due from China and the United States.
The Dow and the S&P 500 rose around 0.3 percent each overnight while the tech-heavy Nasdaq added half a percent.
European markets also finished modestly higher on Thursday after struggling during the previous two sessions.
The U.K.'s FTSE 100, however, fell by 0.4 percent, dragged down by miners on concerns that Chinese banks may not have enough capital to weather potential losses.
by RTT Staff Writer
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