The stock markets are likely to open in the green, following positive cues from Asia and early indications from trading in US futures and SGX Nifty. Trends on SGX Nifty indicate a positive opening for the index in India, with a 62-points gain. At 7:30 am, the Nifty futures were trading at 11,392, higher by 62 points or 0.6 per cent on the Singapore Stock Exchange.
U.S. stock futures rose on Monday on hopes that President Donald Trump could be discharged from hospital later in the day, easing some of the political uncertainty that shook Wall Street in the previous session.
S&P 500 e-mini futures rose 0.45 per cent in early Asian trading, while Nasdaq futures gained 0.58 per cent.
Asian markets looked set to follow that lead with Australian S&P/ASX 200 futures up 1.16 per cent, Japanese stock futures rising 0.75 per cent, and Hong Kong’s Hang Seng index futures up 1.38 per cent.
The S&P 500 was lower on Friday as news that U.S. President Donald Trump tested positive for COVID-19 put investors in a risk-off mood and added to mounting uncertainties surrounding the looming election.
The Dow Jones had fallen 0.37 per cent, the S&P 500 lost 0.83 per cent and Nasdaq Composite dropped 2 per cent.
Meanwhile, oil prices rose more than 1 per cent on Monday, lifted by comments from doctors for U.S. President Donald Trump suggesting he could be discharged from hospital as soon as Monday, just a few days after his positive test for COVID-19 sparked widespread alarm.
Brent rose to $39.79 a barrel, gaining 52 cents or 1.3 per cent and U.S. West Texas Intermediate (WTI) crude was at $37.64 a barrel, up 59 cents or 1.6 per cent by 0140 GMT.
On Thurday, ahead of the extended weekend, the BSE Sensex had surged 629.12 points or 1.65 per cent to 38,697.05 and the NSE Nifty had jumped 169.50 points or 1.51 per cent to 11,417.