30 Nov , 2021 By : Kanchan Joshi
Markets are likely to stay volatile on Tuesday while trends in SGX Nifty indicate a soft opening of Indian benchmark indices. On Monday, the BSE Sensex ended up 153.43 points or 0.27% at 57,260.58. The Nifty was up 27.50 points or 0.16% at 17,053.95.
Asian share markets were trading in positive territory on Tuesday as investors became cautiously optimistic the new Omicron variant might not cause a widespread global economic disruption to worsen the coronavirus pandemic.
The higher open followed a brighter lead from Wall Street on Monday which reacted to the news from US President Joe Biden that new lockdowns as a result of the variant were off the table for now.
MSCI's broadest index of Asia-Pacific shares outside Japan was 0.52% higher on Tuesday.
In Australia, the S&P/ASX200 was up 1.15% while Japan's Nikkei was trading 1.2% higher early in the session.
Hong Kong's Hang Seng Index underperformed, down 0.25% while China's blue-chip CSI 300 index was up 0.13%.
Activity in China's services sector grew at a slightly slower pace in November, official data showed on Tuesday, as the sector took a hit from fresh lockdown measures as authorities raced to contain the latest outbreak.
The official non-manufacturing Purchasing Managers' Index (PMI) fell to 52.3 in November from 52.4 in October, data from the National Bureau of Statistics (NBS) showed.
The better performance across Asian equities markets came after a virus-led selldown late last week when global investors were concerned the variant could prompt further lockdowns which could impede the economic recovery.
The gains on Tuesday came after the Dow Jones Industrial Average on Monday rose 236.6 points, or 0.68%, to 35,135.94, the S&P 500 gained 60.65 points, or 1.32%, to 4,655.27 and the Nasdaq Composite added 291.18 points, or 1.88%, to 15,782.83.
Indians can now use WhatsApp to order groceries from billionaire Mukesh Ambani’s JioMart via a new “tap and chat" option, as his Reliance Industries Ltd. challenges the domination of Amazon.com Inc. and Walmart Inc.-owned Flipkart, according to Bloomberg.
Life Insurance Corporation of India has received approval from the RBI to raise its stake in Kotak Mahindra Bank to up to 9.99%, the bank informed the stock exchanges on Monday. LIC held 4.96% stake in the private lender as on 30 September 2021.
Go Fashion, the owner of women's bottom-wear brand Go Colors will make stock markets debut today. The issue was subscribed 135.46 times in the price band of Rs655 to Rs690.
In Asian trading, the yield on benchmark 10-year Treasury notes was at 1.5192% compared with its US close of 1.529% on Monday.
The two-year yield , which rises with traders' expectations of higher Fed fund rates, touched 0.502% compared with a U.S. close of 0.51%.
Gold eased as the result of other markets firming and fell 0.7% to $1,783.1 per ounce in the US session but it ticked up slightly higher early in Asia to be neutral.
US crude jumped 1.43% to $70.95 a barrel. Brent crude rose to $74.4 per barrel.