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Tuesday, April 20, 2021

Sensex, clever likely to have a flat opening

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At 7:30 a.m., Nifty futures were trading up 0.15% on the Singapore Stock Exchange

Benchmarks are expected to open sideways after the extended weekend, due to the lack of global market indices. US markets ended virtually unchanged, Asian markets are poised for a slightly higher open and trends on SGX Nifty indicate a flat open for domestic markets. As of 7:30 am, Nifty futures were trading at 14,770, up 29 points or 0.15% on the Singapore Stock Exchange.

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Asian stocks are expected to open slightly higher on Tuesday as investors allayed previous worries about a hedge fund default that rocked global banking stocks overnight, while rekindled concerns about inflation pushed bond yields on the rise.

In the U.S., the S&P 500 ended slightly in the red on Monday, with bank stocks falling amid warnings of potential losses from a hedge fund default on margin calls, while optimism over the economy limited the day’s declines.

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The Dow Jones rose 0.3%, while the S&P 500 lost 0.09% and the Nasdaq Composite fell 0.6%.

On the IPO front, mobile game company Nazara Technologies will be listed on the stock exchanges today.

On Friday, the BSE Sensex had climbed 568.38 points or 1.17% to close at 49,008.50 and the Nifty had risen 182.40 points or 1.27% to 14,507.30. Markets were closed on Monday due to Holi and will remain closed on Friday due to Good Friday, in what will be a truncated trading week.

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