Overnight rally in US Dow could drive Nifty up at open
The SGX Nifty, which derives its value from the Nifty, traded at 17,106 at quarter past seven. That is 219 points or 1.3% above Monday’s Nifty close of 16,887.
The Nifty could open with a gap Tuesday, early morning data from Singapore Exchange (SGX) indicates. Short covering by FPIs, who hold 87% bearish index futures positions, could aid the possible bounce back. Covering a short position involves buying it back, which raises the security's price.
Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!Let’s get started