MARKET LIVE: SGX Nifty signals positive opening; Adani Ports in focus

LIVE Market updates: The Indian look set to open higher on Tuesday, on the back of positive global cues, with the index looking to reclaim the psychological level of 15,000 it had lost during the previous session’s fall. At 7:30 AM, the SGX Nifty traded 53 points up at 14,993. That said, concerns over the recent surge in Covid-19 cases could dampen the sentiment.

Market participants could thus stick to stock-specific developments, while also tracking the oil price movement and foreign fund flow.

Wall Street’s main indexes closed at record highs overnight  on gains in travel stocks as mass vaccinations in the United States and congressional approval of a $1.9 trillion aid bill fueled investor optimism. Overall, the Dow rose 0.53 per cent, the S&P 500 gained 0.65 per cent, and the Nasdaq added 1 per cent.

Following Wall Street’s lead, Asian stocks also opened higher on Tuesday. Japan’s Nikkei added 0.6 per cent. Hong Kong’s Hang Seng index rose 0.5 per cent. Australia’s ASX 200 index was up 1 per cent in early trading.

In commodities, Brent crude futures for May settled at $68.88 a barrel, losing 34 cents.

(with inputs from Reuters)

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