Gift Nifty Up 10 Pts in Pre-Open Trade After Nifty Crosses Psychological 20k Mark

By Malvika Gurung — The Gift Nifty index, formerly Singapore-based Exchange SGX Nifty, an early indicator for , traded 0.05% or 10 points higher at 8:56 am on Tuesday, indicating a flat-to-higher or muted opening on Dalal Street.

Further, the and traded flat with negative biases in the pre-open session.

Indian benchmark index Nifty50 surpassed the psychological 20,000 mark at 20,008.15 in the previous session.

Major US indices ended higher on Monday, led by a sharp uptick in the tech-laden index as market heavyweight Tesla (NASDAQ:) spiked past 10% on AI optimism and an overweight upgrade rating from Morgan Stanley (NYSE:).

Investors await the data for August scheduled this week, to decode the Fed’s interest rate hike moves and policy tightening course at its September monetary policy meet.

jumped 1.14%, gained 0.25%, and surged 0.67%.

Asian shares traded mixed on Tuesday with the uptick easing and the recording its best single-day gain against the greenback in two months. The notched its best day in six months.

At 8:50 am, Japan’s rose 0.61%, South Korea’s declined 0.42%, China’s and Hong Kong’s traded flat with negative biases, and Australia’s traded flat with a positive bias.

Oil prices gained on Tuesday as markets awaited forecasts on supply and demand from an due later in the day, although optimism over recent supply cuts kept prices near 10-month highs, an report noted.

Futures rose 0.43% to $91.03/barrel and surged to $87.72 a barrel while writing. dropped 0.15%.

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