Market geared for positive opening

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 64 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher after China said it would drop its quarantine requirements for inbound visitors, further easing three-year border controls aimed at curbing COVID-19. Markets in some regions including Hong Kong and Australia remain shut on Tuesday.

China will stop requiring inbound travellers to go into quarantine starting from January 8. It will also downgrade the seriousness of COVID-19 as it has become less virulent and will gradually evolve into a common respiratory infection.

The U.S. and European markets were closed on Monday for Christmas holidays.

Domestic markets:

Back home, the key equity indices ended with major gains after an up-trending session on Monday. The barometer index, the S&P BSE Sensex advanced 721.13 points or 1.20% to 60,566.42. The Nifty 50 index added 207.80 points or 1.17% to 18,014.60.

Foreign portfolio investors (FPIs) sold shares worth Rs 497.65 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,285.74 crore in the Indian equity market on 26 December, provisional data showed.

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