The Indian equity benchmarks are set to stage a gap up opening on Tuesday as indicated by the NIfty futures traded on the Singapore Exchange. Nifty futures on Singapore Exchange also known as the SGX Nifty rose 108 points or 0.71 per cent to 15,310, indicating Nifty to open above its important psychological level of 15,3000. In yesterday’s session, the benchmarks logged in second straight session of gains led by buying interest in banking shares.
Meanwhile, Asian shares climbed in early trade on Tuesday, tracking a Wall Street rally overnight, while the dollar held near a fourth-month low as investors tempered fears about inflation-driven rate hikes.
In early trade, MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.81 per cent at a two-week high, after U.S. stocks ended the previous session with mild gains.
Australian shares were up 0.76 per cent, while Japan’s Nikkei stock index rose 0.63 per cent. China’s blue-chip CSI300 index jumped 0.22 per cent in morning trade, while Hong Kong’s Hang Seng index opened up 0.41 per cent.
Back home, Grasim Industries will be in focus after its profit rose 36 per cent in March quarter to Rs 480 crore. Its revenue increased 18 per cent to Rs 4,394 crore.