Sensex, Nifty may open higher
U.S. equities were flat on Monday, as U.S. Treasury yields reversed and climbed higher, and investors awaited quarterly reports from big retailers.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 49 points at the opening bell. Overseas, Asian stocks are trading mixed on Tuesday as the Reserve Bank of Australia released minutes from its recent monetary policy meeting. Australia’s central bank is expected to keep the interest rate steady until 2024, according to minutes from its November monetary policy meeting released Tuesday. Given the latest data and forecasts, the central scenario for the economy continued to be consistent with the cash rate remaining at its current level until 2024, the minutes said.
U.S. equities were flat on Monday, as U.S. Treasury yields reversed and climbed higher, and investors awaited quarterly reports from big retailers later in the week.
Meanwhile, U.S. President Joe Biden and Chinese President Xi Jinping kicked off a virtual meeting on Tuesday with a positive tone and cordial remarks. The video call is the closest communication between the countries’ two leaders since Biden took office in January.
Domestic markets
Back home, the domestic equity benchmarks ended near the flat line with some positive bias on Monday. The barometer index, the S&P BSE Sensex, rose 32.02 points or 0.05% to 60,718.71. The Nifty 50 index gained 6.70 points or 0.04% at 18,109.45.
Foreign portfolio investors (FPIs) bought shares worth Rs 424.74 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,524.67 crore in the Indian equity market on 15 November, provisional data showed.