Business

Sensex, Nifty Likely To Open Higher

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Sensex, Nifty Likely To Open Higher

At 7:30 am, the Nifty futures were trading higher by 82 points on the Singapore Stock Exchange.

The domestic stock markets are likely to open in the green, extending the gains of the previous session, following positive cues from Asia and early Nifty SGX trading. Trends on SGX Nifty indicate a positive opening for the index in India, with 82-points gain. At 7:30 am, the Nifty futures were trading at 11,752, higher by 82 points or 0.8 per cent on the Singapore Stock Exchange.

Asian shares looked set to climb on Tuesday as investors shrugged off U.S. election jitters and took hope in strong factory output data in China, Europe and the United States, although the dollar and gold firmed on political uncertainty.

Australia’s ASX 200 jumped 1.17 per cent in early trading, while Hong Kong’s Hang Seng index futures rose 0.28 per cent. S&P 500 futures climbed 0.31 per cent, extending gains on Wall Street overnight, and Japan’s Nikkei 225 futures added 0.41 per cent.

The Dow and S&P closed higher on Monday, with the Nasdaq posting slimmer gains on the eve of the U.S. presidential election as investors girded for what could be big market swings this week.

The Dow Jones rose 1.6 per cent, the S&P 500 gained 1.23 per cent and Nasdaq Composite added 0.42 per cent.

Meanwhile, oil prices gained nearly 3 per cent on Monday, rebounding from several day of losses built on concerns of rising coronavirus cases, one day before the end of U.S. presidential election voting. Brent crude gained $1.03, or 2.7 per cent, to settle at $38.97 a barrel. U.S. West Texas Intermediate ended $1.02, or 2.9 per cent, higher at $36.81 a barrel.

On the earnings front, Sun Pharmaceutical Industries, Adani Gas, Adani Ports, Dabur India and Dhanlaxmi Bank will announce their Q2 numbers during the day.

On Monday, the Sensex had ended 144 points or 0.36 per cent higher at 39,758 and Nifty had advanced 27 points or 0.23 per cent to close at 11,669.

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