The Indian equity benchmarks are set to stage a gap up opening on Tuesday as indicated by the Nifty futures on the Singapore Exchange. Singapore Nifty futures also knows as the SGX Nifty rose 108 points or 0.76 per cent to 14,384. Meanwhile other Asian markets were also trading higher as investors wagered China’s economic strength would help underpin growth in the region, even as pandemic lockdowns threatened to lengthen the road to recovery in the West.
Data out on Monday had confirmed the world’s second-largest economy was one of the few to grow over 2020 and actually picked up speed as the year closed.
MSCI’s broadest index of Asia-Pacific shares outside Japan firmed 0.98 per cent, to be a whisker from record highs. Japan’s Nikkei bounced 1.5 per cent, recovering all the losses suffered on Monday when caution had dominated markets.
Back home, Apollo Hospitals will be in focus as the company informed exchanges that its board will meet on January 22 to consider fund raising plan via qualified institutional placement of equity shares.
Maruti Suzuki will be in focus as the company has hiked prices of select models owing to increase in various input costs. The price change varies across models and ranges upto Rs. 34,000 (Ex-Showroom – Delhi).