Nifty, Sensex Likely to Open in Green Today

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Nifty, Sensex Likely to Open in Green Today

By Aditya Raghunath -- Early cues indicate that Nifty 50 and the BSE Sensex 30 are likely to open in the green today. Nifty 50 Futures in Singapore are up 1.25% as of this report, and this indicates a gap up opening for Indian markets.

However, market analysts have advised investors that the markets are expected to be volatile this week and that is advisable to buy on dips. Technical indicators point to a bear grip on the markets, and unless Nifty crosses the 16,540 level, the bear stance will likely continue.

India’s fifth-largest cement maker Nuvoco Vistas Corporation is scheduled to list today, and by all indications, it will be a weak listing.

Foreign institutional investors (FIIs) sold over Rs 4,300 crore of Indian equities last week as they look to safer havens after the US Fed said it would start tapering. The rupee has dropped to Rs 74.39 against the US dollar. This is also a consequence of the Fed’s taper talk.

Asian markets are all trading in the green as of this report with Nikkei 225 up 1.72%, KOSPI 50 up 1.37% and the Shanghai Composite up 1.1%.

As of this report, Dow Jones 30 Futures are up 0.32%, S&P 500 Futures are up 0.31% and Nasdaq 100 Futures are up 0.36%.

Crude oil has continued to fall as COID-delta cases continue to rise around the world. Crude oil is now below $63.

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