Sensex, Nifty Likely To Open Higher Today

Domestic stock markets are likely to start Monday’s session on a sharply higher note tracking Asian equities which rose to three-month peaks. The Singapore Exchange (SGX) Nifty futures – an early indicator of the National Stock Exchange (NSE) Nifty 50 index – climbed up as much as 200.25 points to 9,682.50 ahead of the opening of Indian markets. At 8:36 am, the SGX Nifty futures were up 185.00 points – or 1.95 per cent – at 9,667.25.

Asian share markets started on a cautious note and gold gained on Monday as images of riots in burning U.S. cities unnerved investors already tense over Washington’s power struggle with Beijing.

E-Mini futures for the S&P 500 retreated 0.5 per cent in early action, while gold rose 0.77 per cent to $1,739 an ounce. Oil prices also slipped, while sovereign bonds picked up the usual safe-haven bid. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.2 per cent, as did Japan’s Nikkei.

US stocks finished mostly higher on Friday after President Donald Trump announced measures against China in response to new security legislation that were less threatening to the US economy than investors had feared.

The Dow Jones Industrial Average fell 0.07 per cent, the S&P 500 gained 0.48 per cent and Nasdaq Composite added 1.29 per cent.

Meanwhile, the fiscal deficit for FY20 widened to 4.59 per cent of the gross domestic product (GDP), overshooting government target of 3.8 percent by nearly 80 basis points, as per date released post-market hours on Friday.

On Friday, the S&P BSE Sensex index had closed 223.51 points (0.69 per cent) higher at 32,424.10 and the broader NSE Nifty 50 benchmark settled at 9,580.30, up 90.20 points (0.95 per cent) from the previous close, as the markets extended gains to a third straight day.

The BSE Sensex and NSE Nifty rose 6 per cent for the bygone week, breaking a three-week losing streak, backed by positive global cues amid stimulus in China and European countries.

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