The S&P BSE Sensex and NSE Nifty 50 indexes are set to open on a quiet note on Tuesday as indicated by the Nifty futures traded on the Singapore Exchange. SGX Nifty or Singapore Nifty Futures rose 0.13 per cent or 18 points to 14,811. Meanwhile, most of the Asian markets were trading lower with Japan’s Nikkei down 0.4 per cent, Hong Kong’s Hang Seng fell 0.7 per cent and China’s Shanghai Composite declined 0.8 per cent.
Overnight, the S&P 500 had its best day since June 5, with investors taking lower US bond yields in stride on optimism over the $1.9 trillion coronavirus relief bill and distribution of Johnson & Johnson’s newly authorized COVID-19 vaccine.
Wall Street’s rise followed a jump in European shares and solid gains on Asian stock markets.
Back home, foreign institutional investors turned net buyers on Monday as the bought shares worth Rs 125 crore while domestic institutional investors sold stocks worth Rs 195 crore in domestic markets.
Bharat Petroleum will be in focus after its board of directors approved sale of Numaligarh Refinery for a total consideration of Rs 9,875 crore. Oil India, Engineers India and Government of Assam will buy the stake in the company.