SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 41 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Thursday as investors weighed corporate earnings, elevated inflation and risks from China's property sector. Evergrande shares dropped sharply on Thursday, returning to trade on Thursday after a halt that lasted more than two weeks.

Evergrande said on Wednesday it had scrapped a deal to sell a 50.1% stake in Evergrande Property Services Group Ltd to Hopson Development Holdings Ltd as the smaller rival had not met the “prerequisite to make a general offer”.

In US, the S&P 500 and the Dow climbed on Wednesday with the Dow hitting an intraday record high as investors eyed better than expected third-quarter earnings from U.S. companies.

On the macro front, the Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts, attributed the slowdown to supply chain disruptions, labor shortages, and uncertainty around the Delta variant of COVID-19. The Fed also said employment increased at a modest to moderate rate in recent weeks, as demand for workers was high, but labor growth was dampened by a low supply of workers.

Domestic markets:

Back home, the domestic equity benchmarks ended with significant cuts on Wednesday. The Nifty 50 index lost 152.15 points or 0.83% to 18,266.60. It reversed trend after hitting the day's high of 18,458.30 in morning trade.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,843.09 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,680.73 crore in the Indian equity market on 20 October, provisional data showed.