The SGX Nifty gained 0.24% in trade on Thursday morning, signaling that domestic indices NSE Nifty 50 and BSE Sensex would open on a positive basis. Nifty futures were 43.5 points higher on the Singaporean exchange at 18,275.5. On Wednesday, Nifty 50 closed down by 100 points, giving up the 18,200 level at 18,181 while Sensex lost 360 points at 61,560. 

“In response to weak global sentiments, domestic investors remained cautious as the US market grappled with recession concerns led by recent economic data indicating slowdown. The US retail sales figures for April reflected a decrease in demand, and ongoing debt ceiling negotiations further dampened market sentiment,” said Vinod Nair, Head of Research, Geojit Financial Services.

Key things to know before share market opens

Wall Street

U.S. stocks gained as a potential resolution to the $31.4 trillion federal debt ceiling was achieved and regional banking stocks rebounded, easing concerns. The Dow Jones Industrial Average jumped 1.24% while the tech-heavy Nasdaq Composite soared 1.28% and the S&P 500 added 1.19%.

Asian Markets

Shares in Asia-Pacific followed Wall Street’s positive cues; the Asian markets were trading in the green. Hong Kong’s Hang Seng added 0.50% while China’s Shanghai Composite traded higher by 0.35%. Japan’s Nikkei 225 gained sharply, up 1.28% as Taiwan’s TSEC 50 was up 0.65% and South Korea’s Kospi was up 0.4% at 0730 IST. 

Crude Oil

Oil prices edged lower on Thursday, easing on concerns over plentiful supply after surging nearly 3% during the previous session. Brent crude futures dipped 24 cents to $76.72 a barrel. U.S. West Texas Intermediate crude dropped 21 cents to $72.62. Both benchmarks rose nearly 3% on Wednesday on optimism over oil demand and U.S. debt ceiling negotiations.

FII/DII Data

Foreign institutional investors (FII) net bought shares worth net Rs 149.33 crore, while domestic institutional investors (DII) net sold shares worth net Rs 203.87 crore on May 17, according to the provisional data available on the NSE.

F&O Ban

The National Stock Exchange has Delta Corp,