Stocks may open higher

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 78 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher on Tuesday after the S&P 500 notched yet another record close on Wall Street overnight. Markets in Australia are closed on Tuesday for a holiday.

U.S. stock indexes rose Monday as markets reopened after the Christmas holiday and investors assessed the spread of the omicron Covid-19 variant. The S&P 500 index ended at a record high.

Domestic markets:

Back home, domestic equity benchmarks reversed from early lows and ended with modest gains on Monday. The barometer index, the S&P BSE Sensex, rose 295.93 points or 0.52% to 57,420.24. The Nifty 50 index added 82.50 points or 0.49% to 17,086.25.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,038.25 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 955.79 crore in the Indian equity market on 27 December, provisional data showed.

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