Nifty Futures Indicate Strong Start For Indian Markets
Indian equity benchmarks are set to open higher as indicated by the Nifty futures traded on Singapore Exchange. The Nifty futures traded on Singapore Exchange also known as the SGX NIfty rose 47 points or 0.4 per cent to 11,722. Meanwhile, other Asian markets were also trading higher as positive Chinese factory gauges and signs of progress in Sino-U.S. trade talks supported sentiment, although another defeat for British Prime Minister Theresa May's proposed Brexit deal added to sterling's woes.
MSCI's broadest index of Asia-Pacific shares outside Japan added 1 percent and the Shanghai Composite Index rallied 1.7 per cent.
Australian stocks climbed 0.8 per cent, South Korea's KOSPI gained 1 per cent and Japan's Nikkei advanced more than 2 per cent.
The markets took heart after China's official purchasing managers' index (PMI) released on Sunday showed factory activity unexpectedly grew for the first time in four months in March.
A private business survey, the Caixin/Markit PMI, released on Monday also showed the manufacturing sector in the world's second biggest economy returning to growth.
If sustained, the improvement in business conditions could indicate that manufacturing is on a path to recovery, easing fears that China could slip into a sharper economic downturn.
Back home, auto shares will be in focus as they will report their monthly sales numbers later in the day.
Dr. Reddy's Labs will be closely watched as its Vishakapatnam facility has been re-inspected by Regulatory Authority of Germany and considered to be fully compliant.
Dena Bank, Vijaya Bank and Bank of Baroda will be on investors' radar as they become part of Bank of Baroda from today, making the first-ever three-way merger in India's banking sector.
(With inputs from Reuters)
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
