Asia stocks rose Thursday and U.S. futures ticked higher as investors mulled an ongoing debate about inflationary pressures. Bonds pared overnight gains.
India’s SGX Nifty 50 Index futures for May delivery rose 0.5% to 14,764.00, while MSCI Asia Pacific Index gained 0.7%. The NSE Nifty 50 Index added 0.8% Wednesday.
Stocks outperformed in Japan as trading resumed after a holiday and also rose in Hong Kong and South Korea.
Benchmark 10-year Treasury yields edged higher. Oil gave up earlier gains as traders assessed an increase in gasoline stockpiles.
The Bloomberg Commodity Spot Index returned to its highest level since 2011 as growth bets boost demand, while poor weather and transportation bottlenecks threaten supply.
Back home, Tata Steel, Adani Green, Blue Dart, Oracle Financial may react as the companies reported quarterly results after the market closed Wednesday. Hero MotoCorp, Tata Consumer, Coforge, Blue Star, Adani Power are among the companies scheduled to report earnings Thursday. Foreign investors sold net Rs 1,740 crore of stocks on May 4, according to NSDL website.
Meanwhile, the RBI will conduct Rs 10,000 crore of Operation Twist-style special open-market operation, to buy bonds and sell an equivalent amount of 182-day T-Bills