The Nifty50 is expected to open higher on Thursday following positive trend seen in other Asian markets. The index closed 18.95 points lower at 10,614 on Wednesday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 25 points or 0.24 percent. Nifty futures were trading around 10,656-level on the Singaporean Stock Exchange.

US stocks ended higher on Wednesday, and the S&P 500 and Dow registered their biggest daily percentage gains since May 4, on signs of easing political turmoil in Italy and as a surge in oil prices boosted energy stocks, said a Reuters report.

Asian stocks rebounded from a two-month trough on Thursday. MSCI’s broadest index of Asia-Pacific shares outside Japan tacked on 0.3 percent having slumped to its weakest since the start of April on Wednesday. South Korea’s KOSPI added 0.6 percent and Japan’s Nikkei advanced 0.5 percent.

Oil prices dropped slightly on Thursday, weighed down by a surprise rise in U.S. crude inventories and by expectations that OPEC and other producers could increase output at a meeting in June, added the Reuters report. Brent crude was trading around $77.30 per barrel.