Indian equities paused their rally on Thursday but are poised to post the sixth straight weekly gain.
While most sectoral indices snapped the run-up, the FMCG index scaled a record high during the weekly options expiry session.
So far this week, the Sensex and the Nifty 50 have gained more than 1.5%. A weekly advance today will be the longest such winning streak since July this year.
Futures are indicating a start with a positive bias to today’s trading session. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.24% to 13,557 as of 7:50 a.m. on Friday.
Oil sensitives will be in focus with Brent Crude crossing the $50-per-barrel mark for the first time since March this year.
Markets across Asia are mixed this morning with shares in Hong Kong and South Korea rising, while those in Japan and Australia trading lower.
Futures on the Dow Jones are currently trading higher by 50 points. The index fell 0.2% on Thursday.
West Texas Intermediate crude rose 0.6% to $47.05 per barrel, while gold traded at $1,836.5/Oz.
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