The Indian benchmarks are set to open marginally higher on Thursday backed by positive global and domestic cues on Thursday.
The market is likely to react positively on Thursday after the Lok Sabha passed four crucial legislations to introduce countrywide Goods and Services Tax (GST) bringing India closer to a unified tax regime. But the market could remain volatile due to March F&O expiry today.
Positive trend in the SGX Nifty Index Futures for March delivery, which were trading at 9153, up by 9 points or 0.10 per cent, at 10:34 AM Singapore time, signalled a flat to marginally higher opening for the domestic bourses. On Wednesday, the Indian equity extended rally, tracking firm global cues, ahead of the expiry of March series futures and options contracts on Thursday.
The market sentiment got a lift on renewed optimism for tax reforms in the US coupled with sustained buying by foreign portfolio investors. The 30-share barometer index of Bombay Stock Exchange, Sensex closed at 29531.43, up by 121.91 points or by 0.41 per cent, and the NSE Nifty ended at 9143.8, up by 43 points or by 0.47 per cent.
The Asian markets have opened mostly higher helped by gains in oil prices, while Wall Street closed mixed on Wednesday after healthcare bill failed to impress Congress
Japan's Nikkei stock index was down 0.2 percent, while Australian shares firmed, helped by gains in oil prices. Strong energy shares had helped the US S&P 500 end higher overnight.
Major Headlines of the day:
After two-wheelers, general insurers want longer term motor policies for cars.
Financials services industry will be more consolidated than it is today: Kotak
ITR form simplified further; e-filing to start from April
Trend in FII flows: The FIIs were net buyers of Rs 460.98 the cash segment on Wends day while the DIIs were net sellers of Rs 1283.03 as per the provisional figures.
Securities in Ban For Trade Date 30-MAR-2017: