LIVE market updates: The benchmark indices may open on a muted note on Tuesday, as per indications from the SGX Nifty January futures. The index was quoting at 17,678, up marginally by 14 points from Nifty's spot close yesterday.
The markets, however, may take support from strong global cues and robust, domestic commercial export data for December.
Among stocks, Reliance may be eyed as the company's telecom arm Reliance Jio has received approval enabling it to use equipment from various vendors, including Ericsson, Nokia Networks, Cisco, and Dell, which have been endorsed as a ‘trusted source’ by the National Security Council Secretariat.
Global cues
The US markets clocked record highs in trade on Monday with Apple becoming the first company to hit the $ 3 trillion market capitalization mark. Despite curbs and restrictions in the face of rising Omicron cases, market analysts were optimistic that economic activity might not be hampered significantly. The Dow Jones and the S&P 500 gained 0.7 per cent and 0.6 per cent, respectively, while the Nasdaq soared 1.2 per cent at close.
Oil prices also surged higher a day ahead of the OPEC+ meeting on hopes of demand recovery. On Monday, Brent Crude jumped 1.5 per cent to $ 78.98 a barrel, and WTI Crude added 1.2 per cent to $ 76.08 a barrel.
This morning in Asia, the major markets were mostly up. Nikkei and Taiwan Weighted index were up 1.5 per cent and 1 per cent, respectively. Straits Times had advanced 0.7 per cent, and Hang Seng had added 0.3 per cent. However, Shanghai Composite and Kospi were down 0.1 per cent each.
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