Nifty to extend rally or fall below 17500? Check US, Asia stocks, SGX Nifty, FII/DII data, more before market opens

2 weeks ago 29

Benchmark indices BSE Sensex, NSE Nifty 50 likely to open positive, hinted SGX Nifty. Here are nine key things you must know before share market opening bell.

Indian benchmark indices are likely to open on a higher note, hinted SGX Nifty. On the Singapore Exchange, Nifty futures were in the green, up 68 points, at the 17,700 level. Markets posted a strong rebound on Friday and gained over one and a half percent, tracking supportive global cues. NSE Nifty 50 ended at 17,594, up over 250 points while BSE Sensex settled at 59,808, gaining 900 points.

“The market had more reasons to cheer today than to worry about concerns regarding inflation. PSU Banks led the sectoral rally as reports of foreign investments in Adani stocks helped the sector in recouping the dampened sentiments. The sentiment was further lightened as FIIs turned in strong buyers. Positive global sentiments also played a vital role in uplifting the market, as a Fed official commented on a favourable level of rate hike in the next meeting,” said Vinod Nair, Head of Research, Geojit Financial Services.

Key things to know before share market opens

Wall Street Overnight

All three major U.S. stock indexes surged more than 1%, with the tech-laden Nasdaq climbing close to 2% with a boost from interest rate sensitive megacaps. The Dow Jones Industrial Average rose 1.17%, the S&P 500 gained 1.61% and the Nasdaq Composite added 1.97%.

U.S. Treasury Yields

U.S. Treasury yields eased in the wake of comments from Fed officials that calmed fears over inflation and interest rates. The U.S. 10-year Treasury yield fell to 3.960%, down from Thursday’s high of 4.091%. The two-year Treasury yield, which typically moves in step with interest rate expectations, dipped 4.3 basis points at 4.859%, according to Reuters.

Asian Markets

Stocks in Asia-Pacific were mixed on Monday. Japan’s Nikkei 225 traded up by 1.21%, and South Korea’s Kospi gained 0.52% in its first hour of trade. China’s Shanghai Composite and Shenzhen Component traded in the negative, lower by 0.34% and 0.82%, respectively. Hong Kong’s Hang Seng index traded decisively in the negative territory, losing 0.58% in trade.

Crude Oil

Oil prices rose, recovering from an early slump after Reuters reported ...

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