The Indian equity benchmark is likely to open on a negative note on Tuesday as indicated by the Nifty futures on the Singapore Exchange. The SGX Exchange was down 39.5 points or 0.24 per cent at 16,607.
The BSE Sensex on Monday surged to a four-week high of over 1,000 points, whereas Nifty 50 Index ended above 16,600.
The major indices in Asia were trading higher after a negative start in early trade on Tuesday. While the Hang Seng index was up 0.07 per cent, South Korea’s KOSPI surged 0.08 per cent. Japan’s Nikkei 225 surged 0.o3 per cent, whereas the Shanghai composite surged 0.18 per cent. The Shenzhen Composite of China surged 0.08 per cent.
The markets in the USA remained closed on Monday owing to memorial day. On Friday, breaking the seven-week losing streak, major indices were trading higher boosted by technology stocks. The S&P 500 surged 100.40 points or 2.5 per cent to 4,158, whereas the Dow Jones Industrial Average advanced 575 points or 1.8 per cent to 33,212. The Nasdaq surged 390.48 points or 3.3 per cent to 12,131.
FII and DII
The foreign institutional investors (FII), and the domestic institutional investors (DII) remained the net buyers on Tuesday worth Rs 502 crore, and Rs 1,524 crore respectively.
Stocks To Watch
Sun Pharma, LIC, IRCTC, Varroc, NLC India, and Aurobindo Pharma.
The crude oil prices surged on Tuesday after the European Union slashed oil imports from Russia. The Brent crude futures for July, which expires on Tuesday, advanced 33 cents to $122 a barrel, whereas the more active August contract surged 33 cents to $117.93. US West Texas Intermediate surged $2.24 higher from Friday’s close and was trading at $117.31 per barrel.
Rupee surged higher by 4 paise to close at 77.54 against US Dollars on Monday.