“China, the global engine of oil demand growth, is wrestling with fresh COVID outbreaks,” it said.

Investors were waiting for the earnings season to kick into full swing with results from JPMorgan, Citigroup and Wells Fargo slated for Friday.

The derivatives market of the NSE posted an exponential growth in activities, with 30 contracts valued at Kes 851,925 concluded

China’s exports rose 18.1% in December as compared with a year earlier, according to customs data released Thursday.

A hefty COVID-19 relief package, which U.S. President-elect Joe Biden is due to unveil on Thursday, also kept losses in check.