Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 13 points at the opening bell.
Overseas, Asian stocks are trading mixed on Thursday as investors await the release of Chinese trade data for December.
On the coronavirus vaccine front, trial data published Wednesday in the New England Journal of Medicine reportedly showed Johnson & Johnson's one-shot Covid vaccine is safe and appears to generate a immune response in both young and elderly volunteers. J&J's vaccine candidate, which only requires one dose, could simplify logistics for health-care providers. The two vaccines currently authorized by the Food and Drug Administration from Pfizer-BioNTech and Moderna require two doses about three to four weeks apart.
In US, the S&P 500 and Nasdaq Composite closed slightly higher on Wednesday, led by tech shares, as traders kept an eye on interest rates, the political uncertainty coming out of Washington and a still raging pandemic. President-elect Joe Biden is expected to release details on his economic plan on Thursday.
The S&P 500 index gained 0.2% to end the day at 3,809.84, and the tech-heavy Nasdaq advanced 0.4% to 13,128.95. The Dow Jones Industrial Average closed just 8.22 points lower, or 0.03%, at 31,060.47.
Meanwhile, turmoil in Washington continues with the House on Wednesday impeaching U.S. President Donald Trump for inciting the attack on the U.S. Capitol last week.
Back home, the domestic equity barometers ended almost flat after a volatile session on Wednesday. Select autos and PSU banks advanced while pharma and financial stocks lagged. The barometer index, the S&P BSE Sensex, was down 24.79 points or 0.05% to 49,492.32. The Nifty 50 index added 1.40 points or 0.01% to 14,564.85.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,879.06 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,370.17 crore in the Indian equity market on 13 January, provisional data showed.
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