Sensex, Nifty seen above on firm global indices
(RTTNews) – Indian stocks are expected to open higher on Tuesday amid positive global indices and optimism about economic growth amid states easing COVID-19 restrictions.
The unlocking in the country was manifested in the improved performance of various high-frequency indicators of the industrial and service sector, mobility and toll collection in July 2021, according to a report by ICRA Ratings.
The benchmarks Sensex and Nifty posted modest gains on Monday as the rupee jumped 17 paise to close at 74.22 against the dollar.
Asian markets rose this morning after China’s central bank called for more credit support to the real economy, especially small, medium and micro businesses.
T-bills were little changed and the dollar held its decline ahead of the Jackson Hole Symposium, while oil stabilized after climbing the most in nine months overnight.
Gold traded above the key psychological level of $ 1,800, boosted by the weaker dollar while Bitcoin hovered around $ 49,000.
U.S. stocks ended on a firm note overnight as commodity prices rallied and regulators fully approved the Pfizer-BioNTech coronavirus vaccine.
Economic data has been mixed, with home sales in July beating expectations while growth in US services and factories slowed to its lowest level in eight months.
The Dow Jones rose 0.6%, the S&P 500 0.9% and the Nasdaq Composite rose 1.6%.
European stocks recovered from their biggest weekly loss in nearly six months on Monday following the release of strong eurozone economic data.
The pan-European Stoxx 600 rose 0.7%. The German DAX and the UK FTSE 100 both rose around 0.3%, while the French CAC 40 index gained 0.9%.
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