Sensex, Nifty Likely To Open Higher (December 30)


2020-12-30 02:38:44

Sensex, Nifty Likely To Open Higher

At 7:30 am, the Nifty futures were trading higher by 0.38 per cent on Singapore Stock Exchange.

The domestic stock markets are likely to open in the green, extending the gains witnessed in the past five trading sessions, going by early indications from SGX Nifty futures trading. Trends on SGX Nifty indicate a positive opening for the index in India, with a 48-points gain. At 7:30 am, the Nifty futures were trading at 13,981, higher by 48 points or 0.38 per cent on the Singapore Stock Exchange.

US stocks edged lower on Tuesday in choppy trading after hitting record highs, as investors worried about the path of the economic reopening and whether the Senate would authorize additional pandemic aid checks.

The Dow Jones Industrial Average fell 65.4 points, or 0.22 per cent, to 30,338.57, the S&P 500 lost 8.46 points, or 0.23 per cent, to 3,726.9 and the Nasdaq Composite dropped 49.85 points, or 0.39 per cent, to 12,849.57.

Asian shares retreated on Wednesday as investors cashed in on a recent rally, while the euro flirted with highs not seen in more than 2-1/2 years on as hopes of a gradual global economic recovery supported demand for riskier currencies.

Australian shares lost 0.79 per cent, while Japan’s Nikkei share average lost 0.03 per cent after jumping to a 30-year high on Tuesday. Hong Kong’s Hang Seng index futures were up 0.11 per cent, however, while E-Mini futures for the S&P 500 were little changed.

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Meanwhile, oil prices gained more ground on Wednesday as a U.S. coronavirus fiscal aid package and expectations of global economic recovery lifted hopes for higher fuel demand.

U.S. West Texas Intermediate (WTI) crude futures rose 27 cents, or 0.6 per cent, to $48.27 a barrel, as of 0114 GMT, while Brent crude futures added 24 cents, or 0.5 per cent, to $51.33 a barrel.

On Tuesday, the S&P BSE Sensex and NSE Nifty 50 indexes rose for fifth session in a row, closing at record highs, led by gains in banking and financial services shares. The Sensex gained 259 points at 47,613.08 and Nifty 50 index advanced 59 points to 13,932.60.



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