Nifty Likely to Open Higher as Dow Crosses 30K; Nifty Futures Up 0.8%

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Nifty Likely to Open Higher as Dow Crosses 30K; Nifty Futures Up 0.8%

By Aditya Raghunath -- Investors can expect Nifty and BSE Sensex to open higher as analysts across the world expect a dramatically improved 2021. It's full steam ahead for stock markets as the Dow Jones Industrial Average crossed and closed over 30,000 for the first time ever. Yesterday, Nifty and Sensex have hit their own individual record highs as well.

Investors are gung-ho on expectations of an economic upswing and recovery in 2021 as COVID-19 vaccines start getting rolled out. Formal clearance by exiting US President Donald Trump to President-elect Joe Biden has also raised hopes of stronger and stable leadership.

Dow Futures are up 0.44% trading at 30,131 while S&P 500 Futures are up 0.47% and Nasdaq Futures are up 0.7%. Crude oil prices continued its upward trend, gaining over 1.3% to trade at $45.51 and gold also made a small recovery of 0.2% to trade at 1,808.2.

European markets closed higher as well, gaining between 1.2% to 1.55%. The Nikkei 225 has gained 1.59% in early trade while it is up 0.6% at the time of this report.

In India, auto and bank stocks will be interesting indices to watch. Both sectors moved up yesterday but auto stocks might see a little sell-off as dealer demand has not kept pace with manufacturer’s sales. Nifty Futures are up 0.8% at last look. 

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