The domestic stock markets are likely to open in the green, building on the gains in the previous session. Trends on SGX Nifty indicate a positive opening for the index in India, with a 67-points gain. At 7:30 am, the Nifty futures were trading at 15,647, higher by 67 points or 0.57 per cent, on the Singapore Stock Exchange.
Asian markets were mixed in Tuesday morning as investors await the release of a private survey on Chinese manufacturing activity in May. Japan’s Nikkei 225 rose 0.11 per cent in morning trade, while the Topix index gained 0.17 per cent and South Korea’s Kospi edged higher by 0.62 per cent.
Meanwhile, oil prices rose on Tuesday ahead of an OPEC+ meeting and on optimism that fuel demand will grow in the months ahead with the summer driving season starting in the United States, the world’s top oil consumer.
Brent crude futures for August gained 56 cents, or 0.8 per cent, to $69.88 a barrel and U.S. West Texas Intermediate crude for July was at $67.33 a barrel, up $1.01, or 1.5 per cent from Friday’s close.
On Monday, the BSE Sensex rallied 514.56 points or 1 per cent and Nifty climbed 147.10 points or 0.95 per cent.