Asian stocks opened higher on Monday after Wall Street rebounded, backed by gains among high-tech stocks, following a Wall Street bounce sparked by a rally among tech-rich stocks. MSCI's index of Asia-Pacific shares outside Japan was up 0.23 per cent.
The domestic equity market was headed for a strong start on Monday, thanks to solid global sentiments. US stocks rallied higher in weekend trade, whereas Asian peers followed the footsteps to move higher. Crude oil eased, whereas the US dollar was on a stronger note. Back home, traders will react to India Inc numbers and will await LIC's listing on Tuesday. Here's breaking down the pre-market actions:
STATE OF THE MARKETS SGX Nifty signals positive startNifty futures on the Singapore Exchange traded 47.5 points, or 0.30 per cent, higher at 15,820, signaling that Dalal Street was headed for a positive start on Monday.
- Tech View: Nifty50 on Friday closed lower for straight sixth session. The index formed a bearish candle on the daily chart even as it managed to negate its lower high-low formation. On the weekly scale, the index formed a long bearish candle with a long upper wick, suggesting selling pressure at higher levels.
- India VIX: The fear gauge dropped more than 3 per cent to 23.48 level on Thursday over its close at 22.80 on Wednesday.
Asian shares trade with gainsAsian stocks opened higher on Monday after Wall Street rebounded, backed by gains among high-tech stocks, following a Wall Street bounce sparked by a rally among tech-rich stoc...