Indian equities managed to recover a third of the losses it posted on Monday as foreign investors resumed their buying ahead of the holiday season.
IT stocks were the biggest contributors to the gains on Tuesday. The Nifty IT index ended at a record high. HCL Technologies Ltd., Tech Mahindra Ltd. and Infosys Ltd. were among the top five gainers on the Nifty 50. Infosys and Wipro will also remain in focus today on the back of deals signed.
Futures, however, are indicating that today’s session may open with a negative bias. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 0.4% to 13,432 as of 7:55 a.m. on Wednesday.
Globally, Asian equities have pared gains as the U.S. stock futures declined this morning after outgoing U.S. President Donald Trump said he is asking the Congress to amend the pandemic aid legislation.
Futures on the Dow Jones are currently trading 130 points lower. The index fell 0.7% on Tuesday.
West Texas Intermediate crude fell 1% to $46.55 per barrel, while gold rose 0.3% to $1,866.22/Oz.
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