Domestic stock markets are likely to open higher today amid gains in Asian peers, a day after plunging nearly 2 per cent on surging crude oil prices. The Singapore Exchange (SGX) Nifty futures – an early indicator of the National Stock Exchange (NSE) Nifty index in India – rose 71.5 points to as high as 12,120.00 ahead of the opening of Indian markets. At 8:44 am, the SGX Nifty futures were up 64.00 points – or 0.53 per cent – at 12,112.50.
Equities in other Asian markets rebounded as a day passed without any new escalation in the Middle East and Wall Street erased early losses to end in the black as tech stocks climbed.
MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.6 per cent, recouping almost all of Monday’s losses. Japan’s Nikkei rallied 1.3 per cent and Shanghai blue chips advanced 0.5 per cent.