Sensex, Nifty eye positive opening

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SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 30 points at the opening bell.

Global markets: Overseas, Asian stocks drifted higher Friday, taking cues from Wall Street where U.S. stocks climbed to record highs overnight.

In US, the Dow Jones Industrial Average soared to a record on Wednesday after falling bond yields and a new stimulus package spurred investors to snap up stocks that will benefit from a faster recovery from the pandemic.

The blue-chip Dow jumped 464.28 points, or 1.5%, to close at a record high of 32,297.02. The S&P 500 added 0.6% to 3,898.81, led by energy and financials. The Nasdaq Composite closed less than 0.1% lower at 13,068.83 after gaining as much as 1.6% earlier in the day.

U.S. President Joe Biden signed the $1.9 trillion coronavirus relief package, which will send direct payments of up to $1,400 to most Americans.

Elsewhere, the European Central Bank said it expects to increase bond purchases significantly next quarter. Bond yields in the euro zone have been ticking higher since February, in line with the yield on U.S. Treasury notes.

Data showed consumer prices rose 1.7% in February from the same month in 2020. The gauge had risen 1.4% in January. The underlying measure of price rises, which strips out food and energy, rose 1.3% on a year-on-year basis, down 0.1% point compared with the previous month.

Domestic markets:

Back home, the domestic equity benchmarks ended with decent gains on Wednesday amid positive global cues. The barometer index, the S&P BSE Sensex, added 254.03 points or 0.50% to 51,279.51. The Nifty 50 index gained 76.40 points or 0.51% at 15,174.80.

Indian stock markets were shut on 11 March 2021 on account of Mahashivratri.

Foreign portfolio investors (FPIs) sold shares worth Rs 15.69 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 447.67 crore in the Indian equity market on 25 February, provisional data showed.

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