Indian indices started the week on a higher note with Sensex closing at 52,950.63, up 363.79, or 0.69%, and the Nifty at 15,885.15, up 122.10 points or 0.77% on Monday. Realty outperformed whereas IT, auto and PSU banks were top gainers.
Things to know before market opening –
Wall Street: US Stocks closed mixed on Wall Street Monday after a day of choppy trading. The S&P 500 closed lower after being slightly higher for much of the day. The Dow Jones Industrial Average fell 97.31 points whereas the Nasdaq rose.
Stocks initially cheered the announcement on Sunday by US senators of around $1 trillion in proposed infrastructure stimulus. Those factors helped push the S&P 500 index to a near all-time high on Monday morning, but the indices ultimately retreated.
Asian markets: Asian stocks were steady early Tuesday after U.S. equities turned lower and Treasury yields retreated on concerns that the economic recovery from the pandemic is losing momentum, reported Bloomberg. Equities edged down in Japan and Australia and rose in South Korea.
Oil prices: Oil steadied above $71 a barrel as investors weighed the risk to consumption posed by the spread of the delta coronavirus variant. West Texas Intermediate was 0.4% higher after slumping 3.6% Monday, the biggest loss in two weeks.
The prices tumbled Monday on weak manufacturing data from China, while global growth worries also weighed on US equities even as Asian and European bourses advanced.
SGX Nifty: SGX Nifty indicates a flat opening for the Indian stock markets today. Singapore Nifty (SGX Nifty) is the Indian Nifty that is traded in Singapore Stock Exchange and is considered to be the first indication of the Indian markets opening.
Earnings today: Adani Enterprise, Adani Ports, Bharti Airtel, Dabur, Bank of India are among the companies scheduled to announce their earnings on Tuesday.
(With inputs from agencies)
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