Sensex, Nifty Set To Have A Positive Opening

Japan’s Nikkei 225 futures rose 0.15 per cent and e-mini futures for S&P 500 rose 0.04 per cent

The domestic stock markets are likely to open in the green, extending Budget-fuelled rally, on the back of positive global cues. Trends on SGX Nifty indicate a positive opening for the index in India, with a 35-points gain. At 7:30 am, the Nifty futures were trading at 15,177, higher by 35 points or 0.27 per cent, on the Singapore Stock Exchange.

Global stocks were poised to rise again on Tuesday in Asian trading after another record-setting day on Wall Street. Japan’s Nikkei 225 futures rose 0.15 per cent, e-mini futures for the S&P 500 rose 0.04 per cent and Australian S&P/ASX 200 futures rose 0.12 per cent in early trading.

Wall Street reached all-time closing highs on Monday as investor optimism was stoked by prospects of a speedier economic recovery from the global health crisis, driven by increased stimulus and an accelerated vaccine rollout.

The Dow Jones rose 237.52 points, or 0.76 per cent, to 31,385.76, the S&P 500 gained 28.76 points, or 0.74 per cent, to 3,915.59 and Nasdaq Composite added 131.35 points, or 0.95 per cent, to 13,987.64.

Meanwhile, oil prices edged up on Tuesday to their highest in 13 months as supply cuts by major producers and optimism over fuel demand recovery support energy markets.

Brent crude futures for April gained 29 cents, or 0.5 per cent, to $60.85 a barrel by 0246 GMT. U.S. West Texas Intermediate crude (WTI) for March was at $58.25 a barrel, up 28 cents, or 0.5 per cent.

The benchmark indices ended at a record closing high on Monday, with the BSE Sensex surging 617.14 points or 1.22 per cent to 51,348.77 and Nifty jumping 191.50 points or 1.28 per cent to 15,115.80