The Nifty futures were trading at 9,320, up 53 points, on Singapore Stock Exchange around 7:30 am.
The benchmark indices are set to extend gains at opening bell, going by the trends on SGX Nifty and the positive closing on the US markets. The Nifty futures were trading at 9,320, up 53 points, on the Singapore Stock Exchange around 7:30 am and the US markets had ended with gains of more than 1 per cent.
The Dow Jones Industrial Average rose 358.51 points and Nasdaq Composite added 95 points on news that several US states were looking to ease lockdowns.
Asian markets were, however, little changed as oil prices continued to slip following an overnight plunge. Nikkei 225 was down 0.36 per cent, while the Topix index shed 0.45 per cent and South Korea's Kospi was flat.
Oil fell on Tuesday on worries about limited capacity to store crude worldwide and expectations that fuel demand may only recover slowly as coronavirus pandemic restrictions are gradually eased. U.S. West Texas Intermediate (WTI) crude futures skidded by as much as 16 per cent and were off 14.7 per cent, or $1.88 cents, at $10.90 a barrel as of 0158 GMT.
The Sensex closed 415.86 points higher at 31,743 and the Nifty settled at 9,282, up 127.90 points as the Reserve Bank of India announced a special liquidity facility of Rs 50,000 crore for mutual funds to calm investors jittery after the Franklin Templeton fiasco.
IndusInd Bank stock will be in the limelight today after the private lender posted a 16.18 per cent year-on-year decline in profit at Rs 301.84 crore for the quarter ended March 31. The net interest income increased 44.62 per cent on a yearly basis to Rs 3,211.19 crore.
Axis Bank is scheduled to announce its March quarter earnings during the day.
