Sensex, Nifty Likely To Have A Subdued Opening

The benchmark indices are likely to open flat, after gaining nearly 4 per cent in the past two trading sessions, due to subdued early trading on SGX Nifty futures. Trends on SGX Nifty indicate a positive opening for the index in India, with a 8-point gain. At 7:30 am, the Nifty futures were trading at 11,255, higher by eight points on the Singapore Stock Exchange.

Asian markets look set to rise on Tuesday, building on newfound momentum after bargain hunters helped a recovery in U.S. markets after last week's selloff.

Australian S&P/ASX 200 futures were up 0.64 per cent in early trading, while Japan's Nikkei 225 futures rose 0.21 per cent. Hong Kong's Hang Seng index futures were up 0.61 per cent.

Wall Street rallied to close sharply higher on Monday as investors sought bargains among sectors hardest-hit by the coronavirus recession, now limping toward its ninth month.

The Dow Jones rose 1.51 per cent, the S&P 500 gained 1.61 per cent and Nasdaq Composite added 1.87 per cent.

Meanwhile, oil prices fell on Tuesday as demand concerns driven by COVID-19 outweighed hopes that U.S. lawmakers and the White House were nearing an agreement on a new stimulus package to revive the world's biggest economy.

U.S. West Texas Intermediate (WTI) crude futures slipped 17 cents, or 0.4 per cent, to $40.43 at 0120 GMT, while Brent crude futures also fell 17 cents, or 0.4 per cent, to $42.26 a barrel.

On Monday, the BSE Sensex had ended higher by 593 points or 1.59 per cent to close at 37,982 and NSE Nifty index rose 177 points or 1.60 per cent to settle at 11,228.