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Stock market live updates: With a sharp fall in oil prices, global sentiment has turned positive.
In line with this, the Sensex and Nifty indices may open in the positive zone on Thursday amid firm cues from overseas. At 8 am, the SGX Nifty futures were around 90 points higher at 17,744.
Brent crude was trading below $90 per barrel in early trades, its lowest level in 7 months.
In the US, markets turned around from a three-week slide on Wednesday. The Dow gained 1.4 per cent, and the S&P 500, and Nasdaq rose 1.8 and 2.14 per cent, respectively.
Major Asian indices also gained Thursday morning. Nikkei surged 2 per cent, Strait times and S&P/ASX 200 rose nearly up to 1 per cent. While Hang Seng and mainland China indices were slightly weak.
On Thursday, investors will keep an eye on US Fed Chair Jerome Powell’s speech ahead of the upcoming meeting later this month.
Besides, the European Central Bank’s rate hike decision will also be closely tracked.
Among stocks, IndiGo will be in focus today as the company’s co-promoter Rakesh Gangwal is likely to sell up to 2.8 per cent stake in the firm through block deals for approximately Rs 2,000 crore.
Concor may also see some action as the govt has revised the long-term lease policy for the industrial use of the Railways’ land. Railways’ land licensing fee has been reduced to 1.5 per cent, from the current 6 per cent.
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