The domestic equity market looks set to open higher on Tuesday, tracking overnight gains on Wall Street and early gains seen in Asian peers. A drop in Covid cases is a relief for domestic investors and so are positive signals on the technical charts that are showing no signs of any halt to the rally. Here's breaking down the pre-market actions. Here's breaking down the pre-market actions:
STATE OF THE MARKETS
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 101 points, or 0.66 per cent, higher at 15,302.50 signaling that Dalal Street was headed for a positive start on Tuesday.
- Tech View: Nifty50 on Monday formed an indecisive Doji candle on the daily chart, but as long as the index trades above the 15,100-15,000 zone, the momentum will remain positive, analysts said.
- India VIX: The fear gauge gained 0.26 per cent to close at 19.13 level on Monday over its Friday's close of 19.08 level.
Asian markets rise in early trade Asian share markets opened higher on Tuesday, tracking Wall Street gains overnight. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.79 per cent.
- Japan's Nikkei jumps 0.55 per cent
- Kong Kong's Hang Seng climbs 0.75 per cent
- South Korea's Kospi advances 0.68 per cent
- Australia's ASX 200 adds 0.62 per cent
- China's Shanghai Composite rises 0.38 per cent
Wall Street shrugged off volatility Wall Street stocks were back in rally mode on Monday, shrugging off recent bouts of volatility and embracing hopes for brighter days as the pandemic ebbs.
- Dow Jones gained 0.54 per cent to 34,393.98
- S&P500 jumped 0.99 per cent to 4,197.05
- Nasdaq Composite soared 1.41 per cent to 13,661.17
Dollar drifts to 4-month low The dollar coasted at the bottom of its recent range, as softer-than-expected U.S data and fresh insistence from Federal Reserve officials that policy would stay on hold allayed investor fears about inflation forcing interest rates higher. The dollar index was down 0.2 per cent below the 90 level.
- Euro gaine...