Domestic stock markets are likely to start Wednesday’s session on a positive note, continuing a rally amid optimism on a fast recovery from the coronavirus pandemic-caused slowdown. The Singapore Exchange (SGX) Nifty futures – an early indicator of the National Stock Exchange’s Nifty 50 benchmark index – rose 48.4 points, or 0.36 per cent, to touch 13,467.20 at the strongest level recorded ahead of the opening of Indian markets. At 8:16 am, the SGX Nifty futures were up 44.00 points – or 0.33 per cent – at 13,462.80.
Record highs in global markets also supported investor sentiment. Equities in Asia rose to a record high and US stock futures gained on Wednesday as investors tracked positive news on COVID-19 vaccines and ongoing efforts to launch more fiscal stimulus. MSCI’s broadest index of Asia-Pacific shares outside Japan was last seen trading 0.51 per cent higher. MSCI’s gauge of stocks across the globe also hit a record high.