Sensex, Nifty Likely To Have A Firm Start
The domestic stock markets are likely to open in the green, following positive Asian cues, as hopes of a coronavirus vaccine have been rekindled across the world.
by Peter Noronha (with inputs from agencies)
The domestic stock markets are likely to open in the green, following positive Asian cues, as hopes of a coronavirus vaccine have been rekindled across the world. Trends on SGX Nifty indicate a positive opening for the index in India, with a 35 point gain. At 7:30 am, the Nifty futures were trading at 11,489, higher by 35 points or 0.3 per cent on the Singapore Stock Exchange.
Asian shares started higher on Monday after AstraZeneca resumed its phase-3 trial, while sentiment was still cautious ahead of a big week of central bank meetings in UK, Japan and the United States.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5 per cent, poised for its second straight session of gains. Australian shares climbed 0.2 per cent, while Japan's Nikkei added 0.3 per cent.
The Nasdaq slid and the S&P 500 closed little with change on September 11 as early gains in technology and growth names faded, with each of the three major Wall Street averages posting their second straight weekly decline.
The Dow Jones closed up 0.48 per cent and S&P 500 gained 0.05 per cent, while Nasdaq Composite dropped 0.6 per cent.
Meanwhile, oil prices were mixed on Monday with US crude rising as a tropical storm in the Gulf of Mexico forced rigs to shutdown, but the gains were kept in check by wider concerns about excess supply and falling demand for fuels.
U.S. West Texas Intermediate (WTI) crude futures were up 9 cents, or 0.2 per cent, at $37.42 a barrel by around 0050 GMT. Brent crude was down 3 cents at $39.80 a barrel.
On Friday, the Sensex had ended 14 points higher at 38,855 and Nifty 50 index had advanced 15 points to close at 11,464.