Sensex, Nifty may open higher; key things to know before opening bell

Asian stocks traded higher on Thursday, as investors looked ahead to an upcoming release of US inflation data for May.

  • Updated On - June 10, 2021 / 08:56 AM IST
Sensex, Nifty may open higher; key things to know before opening bell
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 57 points at the opening bell.

SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 36 points at the opening bell.

The economic impact of the second wave COVID-19 is likely to be restricted to the first quarter of 2022, the Department of Economic Affairs said in its monthly report.

As per the DEA, rapid vaccination of India’s population and the frontloading of the fiscal measures are the key to invigorating investment and consumption.

Global markets: Overseas, Asian stocks traded higher on Thursday, as investors looked ahead to an upcoming release of U.S. inflation data for May.

US-China tensions are in focus, with Joe Biden revoking Trump-era bans on TikTok and WeChat. The president ordered a review of software applications from foreign adversaries and action against those that pose a security risk.

Wall Street stocks ended lower on Wednesday, reversing earlier gains as investors awaited inflation data for clues as to when the U.S. Federal Reserve might tighten its dovish monetary policy.

Focus is locked on Thursday’s release of U.S. consumer price data and a European Central Bank meeting for further clues about how soon policymakers may begin to withdraw support for Europe’s economy rolled out following the COVID-19 crisis.

Domestic markets: Back home, equity indices ended a volatile session with steep losses on Wednesday, led by weakness in banks and auto shares. The barometer index, the S&P BSE Sensex, slipped 333.93 points or 0.64% at 51,941.64. The Nifty 50 index lost 104.75 points or 0.67% at 15,635.35.

Foreign portfolio investors (FPIs) sold shares worth Rs 846.37 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 271.70 crore in the Indian equity market on 9 June, provisional data showed.

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