Three Reasons Why Nifty Is Likely to Open Higher Today

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Three Reasons Why Nifty Is Likely to Open Higher Today
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- Monday was an all-bulls day in the markets. as equities, oil, and gold gained momentum. When something like this happens, it is safe to say that markets are moving purely on sentiment. Tuesday might be a repeat of yesterday’s session as Nifty and the BSE Sensex might see another closing record set today.

  • Creation of investor wealth: Indian markets have added Rs 8.22 lakh crore to investor wealth in the last four trading sessions. The momentum is with the bulls and it is unlikely that they will give it up in early trade today. Nifty Futures are trading 0.25% higher on last look and that is usually the strongest signal that markets will open in the green today.
  • US Futures in positive territory: Dow Jones 30 Futures , S&P 500 Futures , and Nasdaq 100 Futures are trading up 0.37%, 0.34%, and 0.27% respectively after US President Donald Trump signed the stimulus Bill into a law. Goldman Sachs (NYSE: GS ) Chief Economist Jan Hatzius upped his Q1 US GDP forecast from 3% to 5%, in large part because of the Bill. For the full year, Goldman’s revised GDP growth figure is 5.8% compared to an earlier estimate of 5.3%.
  • India to approve AstraZeneca Pharma India Ltd. (NS: ASTR )-Oxford vaccine soon: On Monday, Serum Institute of India CEO Adar Poonawalla said that it could be likely that the AstraZeneca-Oxford University COVID-19 vaccine ‘Covishield’ could get emergency approval for India by the end of 2020 or in January.

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  • Rajiv Kumar @Rajiv Kumar
    fii increase long in fut index yesterdayshow bullishnessbut same time increase in index putand pro also net index call shorttoday wednesdayso i assume as fut index long null effectbut option positionmust workmkt will go dn eod
    Like 0
  • Abhishek Bal @Abhishek Bal
    If market goes up it is because of : 1. Stimulus 2. Vaccine 3. New investor in Reliance. If market goes down it is because of 1,2,3 did not happen. Pure ******
    Like 2
  • Nikhil Soni @Nikhil Soni
    when FIIs gone on selling ,soon we will see a correction in markets.
    Like 5
    • Arun Kumar @Arun Kumar
      same analysis bro.. good keep it up 👍
      Like 1

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  • Sam Smith @Sam Smith
    only reason is FII buying madly .
    Like 9
    • Quasim Khan @Quasim Khan
      FII is buying madly because dollar is falling and due to negative real interest rates in almost all the countries.
      Like 0

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