Sensex, Nifty Set To Open Larger; Tata Consultancy Providers In Focus
Indian equity benchmarks are likely to rebound after yesterday’s strong sell-off, as Nifty Futures on the Singapore Stock Exchange shows. The Nifty Futures on the Singapore Exchange, also known as SGX Nifty Futures, rose 0.3 percent, or 41 points, to 14,400. Meanwhile, Asian equity markets were cautious on Tuesday after US markets weakened as investors awaited the start of corporate earnings season and the release of key inflation data to indicate how the global recovery from the pandemic will play out.
MSCI’s broadest index for stocks in the Asia-Pacific region outside of Japan was up less than 0.1% early Tuesday.
The dollar slipped overnight and a measure for global equity markets slid from record highs last week as investors wait to see if an expected surge in US earnings will justify share prices, which are already trading at very high premiums.
The smooth auctioning of new $ 96 billion worth of new three- and ten-year US Treasury bills kept returns in check as the market watched key data releases this week, including a reading on US consumer price inflation and on Retail sales.
At home, Tata Consultancy Services (TCS) will be in focus after the company reported its earnings after the market entry times for the March quarter on Monday. India’s largest IT services exporter, Tata Consultancy Services (TCS), posted net income up 14.6 percent for the fourth quarter of 2020-21, from Rs 9.282 billion, compared to fourth quarter net income of Rs 8.093 billion for the corresponding period .
