Global shares held firm on Tuesday, with a solid foundation in place to extend their bull run to a 12th consecutive session as optimism about the global economic recovery and expectations of low interest rates drove investments into riskier assets. MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.1% while Japan’s Nikkei rose 0.4% to a 30-year high. S&P500 futures traded 0.5% higher to a record level. The mainland Chinese markets will remain closed for Lunar New Year through Wednesday while Wall Street was also closed on Monday. In the oil markets, prices soared to a 13-month high as a deep freeze due to a severe snow storm in the United States not only boosted power demand but also threatened oil production in Texas.
Market likely to open flat
February 16, 2021
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Stocks which are like to witness action today: Tech Mahindra, Wipro, SIS, Titan, Poly Medicure, Geojit Financial
The SGX Nifty, which currently rules at 15,350 at Singapore Stock Exchange, indicates a flat opening for the market with positive bias. The Nifty50 futures on Monday closed at 15,332.
Asia-Pacific markets maintained their momentum with Japan, Korea and Thailand gaining over one per cent while Australia s benchmark is ruling 0.35 per cent higher.
On Monday, the BSE Sensex rose 609.83 points or 1.18 per cent to 52,154.13, while the Nifty50 jumped 151.40 points or 1 per cent to 15,314.70. The BSE Sensex crossed the 52,000-mark for the first time, as foreign portfolio investors continue to pour money into Indian stock markets.
Trade setup for Tuesday: Top 15 things to know before Opening Bell
The next upside levels to watch out for is around 15,500 in the next few sessions, and immediate support is placed at 15,200, said Nagaraj Shetti of HDFC Securities. Sunil Shankar Matkar February 16, 2021 / 11:01 AM IST
The market extended last week s rally and ended at a fresh record closing high on February 15, with the Nifty50 climbing 15,300 mark and the S&P BSE Sensex 52,000 levels for the first time. The rally was led by banking and financials and positive global cues.
The BSE Sensex rose 609.83 points or 1.18 percent to 52,154.13, while the Nifty50 jumped 151.40 points or 1.00 percent to 15,314.70 and formed a small bullish candle on the daily charts.