Market Live Updates: Sensex, Nifty Likely To Open Higher

The domestic stock markets are likely to open higher, extending the stellar gains witnessed on Friday, following positive global cues. Trends on SGX Nifty indicate a positive opening for the index in India, with a 37-point gain. At 7:30 am, the Nifty futures were trading at 11,077, higher by 37 points or 0.3 per cent on the Singapore Stock Exchange.

Asian shares were on the defensive, while oil prices edged lower on Monday as investors were cautious ahead of a U.S. Presidential debate and as coronavirus cases spike again in a blow to global economic recovery hopes.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.04 per cent to 547.79, not too far from a two-month low of 543.66 hit last week. Japan's Nikkei rose 0.65 per cent, partly on a lower yen, while South Korea's KOSPI index gained 0.8 per cent.

Technology stocks again rode to Wall Street's rescue on Friday, lifting the main indexes more than 1 per cent, but the Dow and the S&P 500 still posted their longest weekly losing streaks in a year as fears of a slowing economy sparked an almost month-long rout.

The Dow Jones rose 1.34 per cent, S&P 500 gained 1.60 per cent and Nasdaq Composite added 2.26 per cent.

Meanwhile, oil prices dipped again on Monday as rising coronavirus cases upset hopes for a smooth recovery in fuel demand, with crude on track for its first monthly fall in many months after slipping last week.

Brent crude edged down 8 cents, or 0.2 per cent, to $41.84 a barrel by 0003 GMT after dropping 2.9 per cent last week. U.S. West Texas Intermediate was at $40.12 a barrel, down 13 cents or 0.3 per cent.

On September 25, snapping a six-day losing streak, the BSE Sensex surged 835.06 points or 2.28 per cent to 37,388.66 and NSE Nifty climbed 244.80 points or 2.27 per cent to 11,050.30.