The SGX Nifty opened on a positive note today. At 8:00 am, it was trading up by 79 points, or 0.5% higher at 17,151 levels. Trends on SGX Nifty indicate a positive opening for Indian stock markets.

Asian stock markets are trading on a steady note today after US shares reached an all-time high amid optimism that the economic recovery will shrug off the outbreak of the omicron virus strain. The Hang Seng is up 0.1%, while the Shanghai Composite is trading down by 0.3%. The Nikkei is trading up by 0.1%. In US stock markets, Wall Street's main indexes posted solid gains for a third straight session on Thursday, with the S&P 500 marking a record-high close, as encouraging developments gave investors more ease about the economic impact of the Omicron coronavirus variant. Economic data painted a picture of solid US growth. Consumer sentiment improved, new home sales increased, durable goods orders beat forecasts and jobless claims signaled further labour market healing. But inflation-adjusted consumer spending stagnated, flagging risks from rapidly rising prices. Sentiment was helped by a U.K. study suggesting omicron infections are less likely to lead to hospitalization. The Dow Jones Industrial Average rose 197 points, or 0.6%, while the S&P 500 gained 29 points, or 0.6% and the Nasdaq Composite added 132 points, or 0.9%.

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US stock markets will be closed today in observance of Christmas. US stock futures are trading on a positive note today with Dow Futures up by 193 points. Gold prices hovered around the key US$1,800-per-ounce level ahead of the year-end holidays, even as the dollar steadied and appetite for riskier assets improved on easing fears over a fallout from the Omicron coronavirus variant. Crude oil prices bounced in a light-volume session on Thursday on signs that the worst effects of the Omicron variant might be more containable than previously feared, even as countries imposed travel restrictions on surging infection levels.

Back home, Tata Motors and MedPlus Health will be among the top buzzing stocks today. Stay tuned for more updates on Indian stock markets in the upcoming commentary.