However, weak macro cues could contain the upside for the bulls on Dalal Street. Moreover, India recorded a massive surge of 72,182 Covid-19 cases in the last 24 hours, according to Worldometer.
Big tech rallied on Wall Street and as President Joe Biden announced a multi-trillion-dollar infrastructure investment plan. The Nasdaq Composite gained 1.54 per cent, while the S&P 500 gained 0.36 per cent to a fresh peak. But the Dow Jones Industrial Average fell 0.26 per cent.
Biden’s $2 trillion plan to create more affordable housing, rebuild roads, bridges and railways and provide incentives for electric vehicles, unveiled on Wednesday, faces a tough slog in the U.S. Congress, where Democrats hold a slim majority.
Asian stocks edged higher early on Thursday. Australian S&P/ASX 200 futures rose 0.38 per cent in early trading, while Hong Kong’s Hang Seng index rose 0.66 per cent. Japan’s Nikkei zoomed 1 per cent.
In the oil markets, crude prices nursed overnight losses with Brent futures rebounding about 0.5% to $63.03 a barrel and U.S. crude up 0.6% at $59.52. Investors will keep a close watch on OPEC+ meet outcome regarding production levels for May.
(with inputs from Reuters)