Nifty, Sensex Likely to Open Higher; Dow Futures Soar

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Nifty, Sensex Likely to Open Higher; Dow Futures Soar

By Aditya Raghunath

Investing.com -- Indian markets are likely to open higher today on the back of strong cues from the US. All three indices: Dow, S&P 500 and Nasdaq , closed at record highs. Cryptocurrency bitcoin broke the $40,000 barrier for the first time and crude oil prices are trading over $51. It was a good day for the markets yesterday.

The momentum is expected to carry forward today. Dow Futures are up 0.36% while S&P and Nasdaq futures are up 0.4% and 0.25% at the time of this report. Asian markets have made a very strong opening today with the Nikkei 225 trading up 1.73% and KOSPI up 2.51%. Nifty 50 Futures in Singapore are trading up 0.2% currently. All of these factors point to a higher opening for Nifty 50 and the BSE Sensex .

One piece of news that can cause Indian markets to take a breather is the report by the National Statistical Office yesterday that said India’s GDP (gross domestic product) is expected to contract by 7.7% in the FY2020-21.

However, the government has said that it expects the economy to recover quickly. “The movement of various high-frequency indicators in recent months points towards broad-based nature of resurgence of economic activity. The relatively more manageable pandemic situation in the country as compared to advanced nations has further added momentum to the economic recovery,” the government said in a press release.

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  • Dhan Singh @Dhan Singh
    i liked it.. Thank you
    Like 0
  • Dhan Singh @Dhan Singh
    i liked it.. Ty !
    Like 0

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