The key benchmark indices are set to open higher on Tuesday as indicated by SGX Nifty and global cues. Nifty futures on the Singapore Exchange traded 114.5 points, or 0.64 per cent, higher at 18,056, signaling that Dalal Street was headed for a strong start on Tuesday.
Taking a cue from Wall Street, the Asian stocks also opened higher on Tuesday. MSCI’s index of Asia-Pacific shares outside Japan was trading 0.34 per cent higher. Japan’s Nikkei advanced 0.22%, Australia’s ASX 200 gained 0.32%, New Zealand’s DJ jumped 0.29%, South Korea’s Kospi rose 2.08%, China’s Shanghai climbed 0.14%, Hong Kong’s Hang Seng fell 0.18%
Energy and technology shares helped drive US stocks to their highest in more than two weeks on Monday ahead of a crucial inflation reading this week that could determine the pace of interest rate hikes by the Federal Reserve. Dow Jones gained 0.71% to 32,381.34, S&P 500 surged 1.06% to 4,110.41, Nasdaq advanced 1.27% at 12,266.41
Oil prices up
Oil prices edged up early on Tuesday, extending gains from the previous session as investors worried about tight supply ahead of the winter heating season in the Northern Hemisphere. Brent crude rose 5 cents to $94.05 a barrel by 0006 GMT, while WTI crude rose 7 cents to $87.85 a barrel.
FIIs buy shares worth Rs 2,050 cr
Foreign portfolio investors (FPIs) turned buyers of domestic stocks to the tune of Rs 2,049.65 crore, data available with NSE suggested. However, DIIs turned net sellers to the tune of Rs 890.51 crore, data suggests.
The rupee pared its initial losses and settled 4 paise higher to close at 79.53 against the US dollar on Monday, tracking positive domestic equities and foreign fund inflows.