Sensex, Nifty Poised For A Strong Opening

Sensex, Nifty Poised For A Strong Opening
Sensex & Nifty futures were trading higher by 1.45 per cent on Singapore Stock Exchange

Sensex & Nifty: The domestic stock markets are likely to open strong, continuing with the momentum witnessed in the previous session, on the back of positive Asian cues and a decline in Covid cases across the country. Trends on SGX Nifty indicate a gap-up opening for the index in India, with a 158-point gain. At 7:30 am, the Nifty futures were trading at 15,104, higher by 158 points or 1.45 percent, on the Singapore Stock Exchange.

Asian markets rose as investors reacted to the release of Japan’s first-quarter gross domestic data. The Taiwan index surged 3.28 percent, Nikkei jumped 2.12 percent and the Topix index advanced 1.49 percent.

Technology stocks pulled Wall Street’s main indexes lower on Monday, as signs of inflationary pressures building up in the economy kept investors worried about monetary policy tightening.

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The Dow Jones was dow 0.46 per cent, at 34,223.93, the S&P 500 was down 0.47 per cent and the Nasdaq Composite was down 0.69 per cent.

On the earninga front, Tata Motors, Canara Bank, Aarti Industries and Abbott India will announce their Q4 numbers during the day.

Meanwhile, oil prices climbed on Tuesday, extending gains from the previous day, as optimism over the reopenings of the U.S and European economies outweighed fears of slower fuel demand in Asia due to surging COVID-19 cases and a new wave of restrictions.

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Brent crude oil futures were up 20 cents, or 0.3 per cent, at $69.66 a barrel by 0231 GMT, while West Texas Intermediate (WTI) was up 19 cents, or 0.3 per cent, at $66.46 a barrel.

On Monday, the BSE Sensex jumped 848.18 points to 49,580.73 and Nifty climbed 245.40 points to 14,923.20.

(This story has not been edited by NEWSUP18 and is auto-generated from a syndicated feed.)

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