The domestic stock markets are likely to open flat post the rally witnessed in the previous session, going by indications from SGX Nifty trading. Trends on SGX Nifty indicate a flat-to-positive start for the index in India. At 7:30 am, the Nifty futures were trading flat at around 15,347 on the Singapore Stock Exchange.
Global shares held firm on Tuesday, with a solid foundation in place to extend their bull run to a 12th consecutive session as optimism about the global economic recovery and expectations of low interest rates drive investments into riskier assets.
MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.1 per cent, while Japan’s Nikkei rose 0.4 per cent to a 30-year high.
The mainland Chinese markets will remain closed for Lunar New Year through Wednesday while Wall Street was also closed on Monday.
S&P500 futures traded 0.5 per cent higher to a record level and MSCI’s all country world index (ACWI), which has risen every single day so far this month, ticked up slightly.
Meanwhile, oil prices soared to their highest in about 13 months on Monday as vaccine rollouts promised to revive demand and producers kept supply reined in. Brent crude was up 93 cents, or 1.5 per cent, at $63.36 a barrel by 1523 GMT after hitting a session peak of $63.76, its highest since Jan. 22 last year.
On February 15, the BSE Sensex rose 609.83 points or 1.18 per cent to 52,154.13 and Nifty jumped 151.40 points or 1 per cent to 15,314.70.