SGX Nifty indicates a strong opening

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could advance 151 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher on Tuesday as investors continued to monitor the situation surrounding the omicron Covid variant.

U.S. stocks ended lower on Monday as investors grappled with the resurgence of Covid cases spurred from the newfound omicron variant.

The omicron variant is raging across to the world as the winter holiday season approaches. U.S. cases are jumping into year-end with more than 156,000 reported on Friday, according to data from the Centers for Disease Control and Prevention.

The strain has been found through testing in 43 out of 50 U.S. states and around 90 countries, and the number of cases is doubling in 1.5 to 3 days in areas with community transmission, according to the World Health Organization.

Domestic markets:

Back home, the domestic equity barometers tanked on Monday, mirroring weak global cues. The S&P BSE Sensex, slumped 1,189.73 points or 2.09% to 55,822.01. The Nifty 50 index tumbled 371 points or 2.18% to 16,614.20.

Foreign portfolio investors (FPIs) sold shares worth Rs 3,565.36 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,764.02 crore in the Indian equity market on 20 December, provisional data showed.

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