The Indian equity markets are likely to open on a positive note amid strong global cues. As of 7:54 AM, the SGX Nifty Futures quoted 16,079 levels, hinting an upside of 90-odd points on the Nifty50.
That said, softening of commodity prices and moderation in foreign outflows will guide domestic markets on Thursday.
Overnight, the US markets climbed higher as investors digested the recent FOMC minutes, which recalled their tough stance on inflation. Dow Jones rose 0.2 per cent, while the S&P 500 gained 0.3 per cent, and the NASDAQ Composite advanced 0.3 per cent.
Asia-Pacific markets, too, rose in tandem on Thursday morning. Japan’s Nikkei 225 rose 0.8 per cent, whereas South Korea’s Kospi climbed 1.04 per cent.
Back home, among individual stocks, Adani Wilmar will be in focus after edible oil firms vowed to cut retail prices by at least Rs 10 per liter. Besides that, Piramal Enterprises received shareholder approval to demerge its pharmaceutical business.