Business

Sensex, Nifty Likely To Have A Firm Opening

Sensex, Nifty Likely To Have A Firm Opening

At 7:30 am, the Nifty futures were trading higher by 0.3 per cent on Singapore Stock Exchange.

The domestic stock markets are likely to open in the green amid cautious trading in Asia due to strained US-China relations. Trends on SGX Nifty indicate a positive opening for the index in India, with a 30 points gain. At 7:30 am, the Nifty futures were trading at 10,349, higher by 30 points or 0.3 per cent on the Singapore Stock Exchange.

Asian stocks were set for a cautious start on Tuesday, following a mixed Wall Street session. Australian S&P/ASX 200 futures fell 0.05 per cent in early trading. Japan's Nikkei 225 futures slipped 0.04 per cent. Tokyo markets were closed for a public holiday on Monday. Hong Kong's Hang Seng index futures rose 0.43 per cent.

The S&P 500 ended up slightly and the Nasdaq fell on Monday as investors extended a rotation into value stocks from heavyweight tech-related names while awaiting news on progress in a US fiscal support bill.

The Dow Jones rose 1.31 per cent, the S&P 500 gained 0.28 per cent and the Nasdaq Composite dropped 0.39 per cent.

Meanwhile, crude oil gained more ground on Tuesday, with prices underpinned by expectations of U.S. stimulus and a rebound in Asian demand as economies reopen.

Brent crude added 7 cents, or 0.2 per cent, to $45.06 a barrel, as of 0027 GMT. West Texas Intermediate U.S. crude rose 14 cents, or 0.3 per cent, to $42.08 a barrel.

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On the corporate front, AIA Engineering, Ashoka Buildcon, Bajaj Electricals and Bosch are likely to announce their Q1 earnings during the day.

On Monday, the Sensex had ended 141.51 points or 0.37 per cent higher at 38,182.08 and the Nifty 50 index had climbed 56.10 points or 0.50 per cent to close at 11,270.15.