Sensex, Nifty Likely To Have Cautious Opening (January 14, 2021)

2021-01-14 02:40:25

Sensex, Nifty Likely To Have Cautious Opening

At 7:30 am, the Nifty futures were trading higher by 19 points on the Singapore Stock Exchange

The domestic stock markets are likely to open on a cautious note, after coming off life-time highs in the previous trading session, going by early indications from SGX Nifty futures trading. Trends on SGX Nifty indicate a cautious opening for the index in India, with a 19-points gain. At 7:30 am, the Nifty futures were trading at 14,592, higher by 19 points, on the Singapore Stock Exchange.

Asian equities made early trading gains on Thursday after a mixed session at Wall Street buoyed by expectations of a U.S.stimulus package even as political events in Washington culminated in the impeachment of President Donald Trump.

Australian S&P/ASX 200 futures rose 0.21 per cent in early trading, while Hong Kong’s Hang Seng index futures rose 0.23 per cent.

Wall Street’s benchmark S&P 500 index closed slightly higher on Wednesday, with defensive sectors leading gains as investors waited for details of the next U.S. fiscal stimulus plan and Congress began President Donald Trump’s impeachment hearings.

The Dow Jones Industrial Average fell 8.22 points, or 0.03 per cent, to 31,060.47, the S&P 500 gained 8.65 points, or 0.23 per cent, to 3,809.84 and Nasdaq Composite added 56.52 points, or 0.43 per cent, to 13,128.95.


On the earnings front, Infosys reported a 16.6 per cent rise in the October-December quarter profit and raised its annual revenue growth forecast, post market hours on Wednesday. The Bengaluru-based company’s consolidated net profit climbed to Rs 5,197 crore from Rs 4,457 crore a year earlier, beating street estimates.

Meanwhile, oil prices eased for a second day on Thursday as mounting coronavirus cases globally raised demand concerns, although a drawdown in U.S. crude stocks for a fifth straight week capped losses.

Brent crude oil futures dipped 5 cents, or 0.1%, to $56.01 a barrel by 0124 GMT, while U.S. West Texas Intermediate (WTI) fell by 1 cent to $52.90 a barrel.

The benchmark BSE Sensex and NSE Nifty indices ended virtually unchanged on Wednesday, post a 12-day record-breaking run. The BSE Sensex gyrated 722 points between an intra-day high of 49,795.19 and a low of 49,073.85 before ending the session at 49,492.32, down 24.79 points, while the NSE Nifty ended at 14,564.85, up one point.

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