Sensex, Nifty may see a positive start on Tuesday; key things to know before opening bell
Asian stocks traded higher on Tuesday after technology shares spurred a Wall Street rally as Federal Reserve officials tried to soothe concerns about inflation.
SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 102 points at the opening bell.
Global markets: Overseas, Asian stocks traded higher on Tuesday after technology shares spurred a Wall Street rally as Federal Reserve officials tried to soothe concerns about inflation.
In Southeast Asia, Singapore’s economy expanded by 1.3% year-on-year in the first quarter, data from the Ministry of Trade and Industry released Tuesday showed. The ministry also announced it would maintain Singapore’s GDP growth forecast for 2021 at “4 to 6%.”
U.S. stocks climbed on Monday as the technology sector and shares benefiting the most from the economic reopening led the advance. All eyes are on the US inflation measure, the personal consumption index, to be revealed this week.
Domestic markets: Back home, equity indices ended with small gains on Monday, supported by firmness in banks stocks. The moderation in daily new COVID-19 cases in India improved risk sentiments. The barometer index, the S&P BSE Sensex, rose 111.42 points or 0.22% at 50,651.90. The Nifty 50 index gained 22.40 points or 0.15% at 15,197.70.
Foreign portfolio investors (FPIs) bought shares worth Rs 585.36 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 707.69 crore in the Indian equity market on 24 May, provisional data showed.
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