SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 6 points at the opening bell.
Global markets:
Overseas, Asian stocks are trading higher on Tuesday following a Wall Street rally driven by vaccine hopes.
China said on Tuesday it agreed with the United States to continue pushing forward the implementation of the bilateral Phase 1 trade deal reached earlier this year during a call between the two countries' top trade negotiators. Vice Premier Liu He spoke with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin, China's commerce ministry reportedly said in a statement. The two sides had constructive talks on the trade deal and strengthening macroeconomic policy coordination, the ministry said.
In US, the S&P 500 and the Nasdaq reached new record closing highs on Monday as optimism over potential medical advances in the war against the coronavirus pandemic pushed all three major U.S. stock indexes higher.
On Capitol Hill, partisan wrangling over stalled coronavirus aid talks continued, and congressional Democrats and Republicans remain at loggerheads over funding levels and unemployment benefits.
Domestic markets:
Back home, key domestic equity barometers ended with strong gains on Monday, buoyed by firmness in private banks stocks. Upbeat global cues boosted investors sentiment. The barometer index, the S&P BSE Sensex, advanced 364.36 points or 0.95% at 38,799.08. The Nifty 50 index climbed 94.85 points or 0.83% at 11,466.45.
Foreign portfolio investors (FPIs) bought shares worth Rs 219.07 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 335.64 crore in the Indian equity market on 24 August, provisional data showed.
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