SGX Nifty indicates a positive start for the Indian indices
The key equity indices ended near the day's high with robust gains on Tuesday, tracking positive cues in other Asian stocks.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 43 points at the opening bell. Overseas, Asian stocks traded mostly higher on Wednesday, as optimism continued to drive US stocks, with the S&P 500 and Nasdaq reaching record highs overnight.
US stocks were higher Tuesday following a broad-based rally on news that US regulators granted full approval for Pfizer-BioNTech’s Covid vaccine.
Investors are eyeing the Federal Reserve’s annual central banking event in Jackson Hole, Wyo. later this week, focused on whether or not central bankers will detail their plans for tapering monetary stimulus. The Fed has started discussions to pull back its $120 billion a month bondbuying program by the end of this year. The summit will take place virtually on Thursday, and Fed Chairman Jerome Powell will give a speech on Friday.
Domestic markets: Back home, the key equity indices ended near the day’s high with robust gains on Tuesday, tracking positive cues in other Asian stocks. The barometer index, the S&P BSE Sensex, advanced 403.19 points or 0.73% to 55,958.98. The Nifty 50 index added 128.15 points or 0.78% to 16,624.60. Foreign portfolio investors (FPIs) sold shares worth Rs 1,644.91 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,380.05 crore in the Indian equity market on 24 August, provisional data showed.
Download Money9 App for the latest updates on Personal Finance.
