(15-Apr-2021)Market may see gap-up opening

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 115 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading steady on Thursday after U.S. stocks eased from all-time peaks.

In US, Wall Street indexes closed mixed on Wednesday, with the Nasdaq Composite and S&P 500 falling despite another record intraday high for the latter and big banks' stellar results on the first day of earnings season.

The Federal Reserve will continue to support the recovery, and will start tapering asset purchases “well before” policy makers consider raising interest rates, Chairman Jerome Powell told the Economic Club of Washington Wednesday.

In coronavirus developments, a U.S. Centers for Disease Control and Prevention panel decided Wednesday to postpone a decision on Johnson and Johnson's Covid-19 vaccine following the development of a rare but potentially life-threatening blood-clotting disorder in six women. On Tuesday, the U.S. Food and Drug Administration asked states to temporarily halt using J&J's Covid-19 vaccine “out of an abundance of caution.”

Domestic markets:

Back home, stock markets were closed on Wednesday, 14 April 2021 on account of Dr.Baba Saheb Ambedkar Jayanti. Key equity indices ended with strong gains on Tuesday. The barometer index, the S&P BSE Sensex, rose 660.68 points or 1.38% at 48,544.06. The Nifty 50 index gained 194 points or 1.36% at 14,504.80.

Foreign portfolio investors (FPIs) sold shares worth Rs 730.81 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 243.80 crore in the Indian equity market on 13 April, provisional data showed.