The domestic stock markets are likely to open flat, after two succesive days of gains, going by indications from SGX Nifty futures. Trends on SGX Nifty indicate a flat opening for the index in India. At 7:30 am, the Nifty futures were trading virtually unchanged at 12,953 on the Singapore Stock Exchange.
Asian stocks opened higher on Tuesday as COVID-19 vaccine progress shored up global sentiment and U.S. President-elect Joe Biden was given the go-ahead to begin his White House transition.
S&P 500 was up 0.52 per cent in early Asian trade, while Japan’s Nikkei was 1.8 per cent higher and Australia’s S&P/ASX 200 1.11 per cent stronger.
U.S. stocks closed higher in a choppy session on Monday as hopes for a COVID-19 vaccine lifted economically sensitive sectors such as energy and industrials, but a pullback in megacap shares curbed gains on the S&P 500 and Nasdaq.
The Dow Jones Industrial Average rose 1.12 per cent and the S&P 500 gained 0.56 per cent, while the Nasdaq Composite added only 0.22 per cent, underperforming as traders rotated away from big tech names.