SGX Nifty indicates positive start for Indian markets

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Domestic equity markets are likely to open higher on Tuesday tracking firm global cues. SGX Nifty, an early indicator of the Nifty50 index performance, also indicates a positive start for the index in India. The Nifty futures was up 25 points 0.16% at the 15,166 level at around 8.20 am (IST).

The BSE benchmark Sensex rallied 617.14 points or 1.22% to close above the 51,000-mark for the first time on Monday. During the day, the benchmark index jumped to its all-time high of 51,523.38. Markets have been gaining since February 1 (Budget day).

Since February 1, the market capitalisation of BSE-listed companies has zoomed Rs 16,70,154.05 crore to reach Rs 2,02,82,798.08 crore, its new record high. During this time, the 30-share BSE index has gained 5,063 points or 10.93 per cent.

Global markets:

Overseas, Asian stocks are mostly higher on Tuesday following overnight gains on Wall Street that saw the major indexes rallying to record closing highs.

In the US, Wall Street reached all-time closing highs on Monday as investor optimism was stoked by prospects of a speedier economic recovery from the global health crisis, driven by increased stimulus and an accelerated vaccine rollout.

Biden has set a goal to administer at least 100 million Covid vaccine doses during his first 100 days in office, but he warned it will be very difficult to achieve herd immunity in the US by the end of summer.