Sensex, Nifty Set To Open Higher; HDFC In Focus Ahead of Earnings

Asian stock markets extended gains on Tuesday on increased optimism about stimulus packages and global economic recovery.

Sensex, Nifty Set To Open Higher; HDFC In Focus Ahead of Earnings

Indian equity benchmarks are set to stage a gap up opening as indicated Nifty futures traded on the Singapore Exchange. The Nifty futures traded on the Singapore Exchange also known as the SGX NIfty futures rose 0.78 per cent or 112 points to 14,470. Equity benchmarks on Monday recorded their best performance on a budget day in over two decades after the finance minister announced a slew of measures to revive the pandemic-hit economy.

Meanwhile, Asian stock markets extended gains on Tuesday on increased optimism about stimulus packages and global economic recovery, while retail investors retreated from GameStop and their new-found interest in silver.

Global shares rebounded from last week's steep sell-off and silver prices surged on Monday as retail investors expanded their social media-fueled battle with Wall Street to drive the precious metal to an eight-year high.

A shift in the retail trading frenzy to silver drove up mining stocks on both sides of the Atlantic, with a 9.3 per cent jump in the iShares Silver Trust ETF , putting it on track for its best day since 2008.

Back home, HDFC, Dixon Technologies, Balrampur Chini Mills, Escorts, IIFL Wealth Management and Tata Consumer Products will announce their December quarter earnings later in the day.

Indigo Paints shares will make stock market debut at 10:00 am today. The issue was subscribed over 100 times between January 20-22.