Sensex Today Live: Indian Markets Set for Positive Open Amidst Global Gains
Indian shares are set to open higher on Wednesday, tracking gains in global markets, while investor focus will be on quarterly results from multiple Nifty 50 companies this week. India’s GIFT Nifty was trading at 22,449.50, as of 07:27 a.m. IST, indicating that the Nifty 50 will open above its Tuesday’s close of 22,368.
The benchmark indexes Nifty and S&P BSE Sensex rose for a third session on Tuesday, tracking gains in global markets amid concerns of a major re-escalation of tension in the Middle East easing. Asian markets opened higher, after U.S. equities closed up overnight on earnings reports from the U.S. megacaps.
Easing concerns about the threat of a major re-escalation of tension in the Middle East and a focus on company earnings brought renewed risk appetite from investors. MSCI’s gauge of stocks across the globe rose 9.14 points, or 1.22%, to 758.4, further pulling away from Friday’s two-month low.
The Dow Jones Industrial Average rose 263.71 points, or 0.69%, to 38,503.69, the S&P 500 gained 59.95 points, or 1.20%, to 5,070.55 and the Nasdaq Composite rose 245.34 points, or 1.59%, to 15,696.64.
The FTSE 100 hit a record high and finished up 1.10%. The STOXX 600 rose 1.09% on gains in the technology sector. The European Central Bank is expected to cut rates in June. The euro was last up 0.45% at $1.0703. It struck a five-month low of $1.0601 last week.
In commodities, spot gold extended the previous session’s losses, down 0.2% at $2,321.57 an ounce. U.S. gold futures settled 0.2% lower at $2,342.10. Oil prices were up as investors continued to assess the situation in the Middle East. Brent crude futures rose 1.63% to $88.42 a barrel and U.S. crude settled up 1.78% at $83.36.
