Indian Markets Closed For Public Holiday

Indian markets remain closed today on account of Dr. Baba Saheb Ambedkar Jayanti.

Benchmark indexes Sensex and the Nifty jumped around 1.4 percent on Tuesday after a bruising coronavirus-led tumble in the previous session on concerns that a severe second wave of the novel coronavirus could dent the country’s nascent economic recovery.

Sentiment turned positive after the Indian regulators approved Russia’s Sputnik V COVID-19 vaccine and private weather forecaster Skymet said the upcoming monsoon season will see normal rainfall.

Asian markets are trading mixed this morning as bond yields eased after a spate of strong auction results and the release of tamer-than-expected U.S. inflation data.

The dollar hit three-week lows while oil added to overnight gains on signs of inventory drawdown and after OPEC raised its forecast for growth in world oil demand this year.

U.S. stocks rose broadly overnight, as expectations of strong quarterly earnings from big name companies outweighed strong inflation data and news about U.S. officials halting the administration of Johnson & Johnson vaccines over blood clot incidents.

The S&P 500 gained 0.3 percent and the tech-heavy Nasdaq Composite index rallied 1 percent while the Dow slipped 0.2 percent.

European markets closed slightly higher on Tuesday amid hopes for better earnings.

The pan European Stoxx 600 edged up 0.1 percent. The German DAX rose 0.1 percent and France’s CAC 40 index added 0.4 percent while the U.K.’s FTSE 100 ended flat with a positive bias.