Nifty ended flat amidst a volatile session on Wednesday due to tug of war between positive domestic factors and weak Asian cues.

GIFT Nifty (Earlier SGX Nifty) signals a negative start

GIFT Nifty on the NSE IX traded lower by 27 points, or 0.11 per cent, at 24,518.50 signaling that Dalal Street was headed for negative start on Thursday.

US stocks up

All three major U.S. stock indexes scored record closing highs on Wednesday as technology shares rallied after upbeat results from Salesforce and as comments by Federal Reserve Chair Jerome Powell gave a late boost to the market.

 Dow up 0.7%,

◦ S&P 500 up 0.6%,

◦ Nasdaq up 1.3%

Asian shares gain

Shares in Asia climbed after global stocks hit a record with Jerome Powel's bullish comments that supported risk assets. Currency traders remained on alert as the French government fell after a no-confidence vote.

◦ S&P 500 futures were little changed as of 9:05 a.m. Tokyo time

◦ Hang Seng futures fell 0.8%

◦ Japan's Topix rose 0.5%

◦ Australia's S&P/ASX 200 rose 0.2%

◦ Euro Stoxx 50 futures rose 0.7%

Oil rises

Oil prices rose on Thursday ahead of an OPEC+ meeting later in the day, with investors waiting to see what the producer group would do next on supply cuts while also monitoring tension in the Middle East.

Rupee

The rupee slumped to its all-time low of 84.76 against the US dollar after dropping 8 paise on Wednesday amid a strengthening greenback and increase in crude prices.

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