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Stocks may see firm opening

·1-min read

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 96 points at the opening bell.

Global markets:

Overseas, Asian stocks traded mixed on Tuesday as investors await remarks from U.S. President-elect Joe Biden's nominee for Treasury secretary, Janet Yellen.

On the coronavirus front, the head of the World Health Organization warned Monday of a “catastrophic moral failure” due to unfair vaccine rollouts.

The U.S. stock market was closed on Monday in honor of Martin Luther King Jr. Day.

Domestic markets:

Back home, benchmark indices ended with steep losses on Monday, extending fall for the second straight session. Rising coronavirus cases across US, Europe and China weighed on investors' sentiment. The barometer index, the S&P BSE Sensex, dropped 470.40 points or 0.96% to 48,564.27. The Nifty 50 index lost 152.40 points or 1.06% at 14,281.30.

Foreign portfolio investors (FPIs) bought shares worth Rs 650.60 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 42.51 crore in the Indian equity market on 18 January, provisional data showed.



Source: Capitalmarket.com