MARKET LIVE: Sensex, Nifty set to open higher; RIL, Info Edge in focus

LIVE market updates: The Indian markets might open higher on Tuesday after closing in the red for five consecutive sessions. At 7:30 AM, the SGX Nifty was trading 45 points up at 14,720, indicating a positive open. However, elevated crude prices and mixed global cues might keep investors on their toes. 

Global cues

Rising US Treasury yields and inflation prospects led to a further rotation out of the big tech stocks responsible for a major Wall Street rally during the pandemic. In the overnight trade, the Dow Jones rose 0.09 per cent, eking a small gain. The S&P 500 lost 0.77 per cent and the Nasdaq Composite dropped 2.46 per cent.

Asian stocks were mixed on Tuesday. The Australian S&P/ASX 200 gained half a per cent while South Korea’s Kospi declined 0.8 per cent in early trading. Hong Kong’s Hang Seng index futures rose 0.2 per cent. Japanese markets are closed for a public holiday.

Oil prices rose on a tight global supply outlook after U.S. production was hammered by frigid weather and an approaching meeting of top crude producers is expected to keep output largely in check. Brent crude futures rose $2.33 to settle at $65.24 a barrel.

(with inputs from Reuters)