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Nifty Seen Opening Above 15,800 On Strong Cues From Asian Markets

Nifty Seen Opening Above 15,800 On Strong Cues From Asian Markets

The Indian equity benchmarks are set to open lower as indicated by the Nifty futures traded on Singapore Exchange amid positive cues from other Asian markets. The Nifty futures on Singapore Exchange also known as SGX Nifty Futures rose 0.9 per cent or 139 points to 15,827.

A gauge of global stocks closed at a record on Monday and U.S. Treasury yields held above five-month lows touched last week as investors looked for signs on whether the Delta variant of the COVID-19 coronavirus could hamper economic growth.

Last week, a bond market rally pushed the yield of the benchmark 10-year U.S. Treasury note to a five-month low of 1.25 per cent as investors worried that climbing cases of the variant could slow the economic recovery. The yield had risen to as high as 1.78 per cent in March as rising vaccination rates fed expectations for growth.

Asian markets were also trading higher with Japan’s Nikkei up 0.78 per cent, Straits Times up 0.58 per cent, Hang Seng up nearly 2 per cent and Taiwan Weighted up 0.75 per cent.

Back home, foreign institutional investors sold shares worth Rs 746 crore on Monday while domestic institutional investors bought shares worth Rs 447 crore.

Reliance Industries will be in focus after the company said it has invested Rs 1 lakh in cash in 10,000 equity shares of Rs 10 each of ‘Reliance New Energy Solar Limited’ (RNESL), a newly incorporated wholly owned subsidiary. RNESL is incorporated to undertake activities relating to solar energy.

BNP Paribas Arbitrage fund acquired over 12.50 lakh shares in Granules India at Rs 370.55 per share, data from NSE showed.