The domestic stock markets are likely to open in the green, aftyer correcting for two straight sessions, on the back of conducive global cues. Trends on SGX Nifty indicate a positive opening for the index in India, with a 67-points gain. At 7:30 am, the Nifty futures were trading at 15,017, higher by 67 points or 0.55 per cent on the Singapore Stock Exchange.
Asian stocks were set to open higher on Tuesday after Wall Street’s main indices closed at record highs and investors awaited comments from the U.S. central bank’s meeting later this week.
Japan’s Nikkei 225 futures added 0.10 per cent, Hong Kong’s Hang Seng index futures rose 0.55 per cent and Australia’s S&P/ASX 200 index rose 0.24 per cent in early trading.
The S&P 500 and Dow Jones Industrial Average closed at a record high on Monday as investors eyed an economic recovery from the coronavirus impact and awaited cues from the Federal Reserve this week amid caution over rising borrowing costs.
The Dow Jones Industrial Average rose 0.53 per cent to end at 32,953.46 points, while the S&P 500 gained 0.65 per cent to 3,968.94 and Nasdaq Composite climbed 1.05 per cent to 13,459.71.
Meanwhile, oil prices edged lower on Monday, pulling back from early gains fostered on strong Chinese economic news and ongoing supply restraint from major oil producers.
Brent crude futures for May settled at $68.88 a barrel, losing 34 cents. U.S. West Texas Intermediate crude for April settled at $65.39 a barrel, shedding 22 cents.
On Monday, the BSE Sensex fell 397 points to close at 50,395.08 and the Nifty was down 101.50 points to 14,929.50.