Sensex, Nifty Look Set For Positive Start

(RTTNews) - Higher GIFT Nifty futures, Wall Street's firm close overnight, and steady Asian markets point to a positive start for Indian shares on Thursday.

Rising optimism about an interest rate cut by the Federal Reserve in December is likely to trigger another round of buying, although uncertainty around a potential U.S.-Indian trade deal could limit market's upside.

Whirlpool stocks will be in focus on reports the company's promoter is likely to sell a 7.5% stake via a block deal at a floor price of Rs 1,030 per share.

Oberoi Realty has announced that it has entered into a develop agreement for the redevelopment of a huge land parcel on Nepean Sea Road in Mumbai.

Salasar Techno Engineering has bagged two contracts worth a total of approximately Rs 695 crore from Rail Vikas Nigam Ltd.

India's benchmark stock indexes Sensex and the Nifty50 closed notably higher on Wednesday thanks to broad-based buying as a slew of weak economic data from the United States helped reinforce bets that the Federal Reserve will cut interest rates in December.

Falling crude oil prices in international markets on signs of progress in U.S.-brokered peace talks between Russia and Ukraine as well as exchange data showing FII buying also boosted investor sentiment.

The benchmark BSE Sensex jumped 1,022.50 points, or 1.21%, to 85,609.51, while the broader NSE Nifty index climbed up 320.50 points, or 1.24%, to 26,205.30.

U.S. stocks ended broadly higher on Wednesday, extending the upward trend seen over the past few sessions. Renewed optimism about the outlook for interest rates following dovish comments from some Federal Reserve officials continued to support sentiment.

The major averages closed higher for the fourth consecutive session, continuing to claw their way back towards their record highs. The Dow climbed 314.67 points or 0.7% to 47,427.12, the Nasdaq jumped 189.10 points or 0.8% to 23,214.69 and the S&P 500 advanced 46.73 points or 0.7% to 6,812.61.

CME Group's FedWatch Tool indicates the chances the Fed will lower rates by another quarter point next month have soared to 82.9% from just 30.1% a week ago.