Nifty Futures Up As Investors Cheered a Potential Brexit Deal

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Nifty Futures Up As Investors Cheered a Potential Brexit Deal
Credit: © Reuters.

The Nifty might open on a positive note in early-market trading today, given that Nifty Futures are up 36 points on the last look. Yesterday, Indian indices gained close to 1% led by stocks in the mid-cap sector.

Most Asian markets are trading higher with the Australian Stock Exchange gaining 0.8%, while Nikkei 225 is up 0.1% and Hang Seng trading 0.2% higher at the time of writing.

According to a report from Reuters, “Investors cheered a potential Brexit trade deal between Britain and the European Union that raised hopes the estranged allies would avoid a turbulent economic rupture on New Year's Day.”

U.S. dollar trades lower

The dollar was down on Thursday morning in Asia, with investors retreating from the safe-haven greenback and turning to the pound over expectations of an imminent Brexit deal that could help the U.K. avoid a turbulent economic rupture come Jan. 1.

Some investors forecast that an expected further decline in the greenback will boost stock markets and emerging-market currencies.

“The fact that equity indices traded mostly in the green this morning reflects a consensus expectation that Trump will sign the budget into law, although he could wait until the eleventh hour,” Rabobank senior FX strategist Jane Foley said in a note.

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  • Dashrath Tailor @Dashrath Tailor
    nifty 13780 today
    Like 4
    • HARSH MAN @HARSH MAN
      why
      Like 0

      • Comment Guidelines

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  • sumantra chabri @sumantra chabri
    What it meant for India?
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