SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 31 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Thursday after a bumpy session on Wall Street amid fears that agreement on a key U.S. stimulus bill will not be reached until after the presidential election on November 3.

International Monetary Fund on Wednesday downgraded its growth forecast for Asia-Pacific. The IMF downgraded its forecast for Asia-Pacific to -2.2% in 2020.

In US, Wall Street's three major averages closed lower on Wednesday after a volatile trading session, as investors worried whether difficult negotiations in Washington would produce a deal for a fresh U.S. coronavirus stimulus package. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin continued their negotiations on a new fiscal stimulus package.

Investors also have their eyes on the upcoming elections. Trump and Democratic challenger Joe Biden will face off in their second and final debate on Thursday night.

Domestic markets:

Back home, the benchmark indices ended the roller-coaster session with decent gains on Wednesday. Banks and metal stocks rallied while IT and FMCG shares declined. The barometer index, the S&P BSE Sensex, gained 162.94 points or 0.40% at 40,707.31. The Nifty 50 index added 40.85 points or 0.34% at 11,937.65.

Foreign portfolio investors (FPIs) bought shares worth Rs 2,108.48 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,633.53 crore in the Indian equity market on 21 October, provisional data showed.