At 7:30 am, Nifty futures were trading higher by eight points on Singapore Stock Exchange.
The domestic stock markets are likely to open flat, although the US markets had a good session overnight and Asian peers are trading in the green this morning after the US Fed maintained its dovish stance. Trends on SGX Nifty indicate a flat opening for the index in India, with a 8 points gain. At 7:30 am, the Nifty futures were trading at 11,233, higher by eight points, on the Singapore Stock Exchange.
Asian stocks were set to track an upbeat Wall Street session on Thursday after the Federal Reserve kept interest rates at ultra-low levels, while the U.S. dollar fell to a two-year low.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.28 per cent, while its global stock index rose 0.81 per cent. Australian S&P/ASX 200 futures were up 0.9 per cent while Japan's Nikkei 225 futures were down 0.04 per cent. The Nikkei 225 index closed down 1.15 per cent at 22,397.11 on Wednesday.
U.S. stocks closed higher on Wednesday, adding to gains after the Federal Reserve repeated a pledge to use its "full range of tools" to support the economy but cautioned that the outlook "will depend significantly on the course of the virus."
The Dow Jones rose 0.61 per cent, the S&P 500 gained 1.24 per cent and Nasdaq Composite added 1.35 per cent.
On the corporate front, Reliance Industries, HDFC and Dabur India are among the major companies to declare their quarterly numbers during the day.
Meanwhile, oil prices rose on Wednesday after a steep drop in U.S. crude inventories, but another record day for coronavirus cases worldwide kept gains in check.
Brent crude futures settled at $43.75 a barrel, up 53 cents, or 1.2 per cent. U.S. West Texas Intermediate crude futures settled at $41.27 a barrel, gaining 23 cents, or 0.6 per cent.
On Wednesday, the BSE Sensex had ended with a loss of 422 points, or 1.10 per cent at 38,071.13 and the NSE Nifty settled at 11,202.85, down 98 points, or 0.86 per cent.
