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Markets Likely To Open Higher Ahead Of Budget Announcement

Markets Likely To Open Higher Ahead Of Budget Announcement

Stock markets are likely to start on a positive note on Friday, ahead of the Budget presentation in Parliament by Union Minister Piyush Goyal. The SGX Nifty was last seen trading 43.5 points, or 0.4 per cent, higher at 10,898.55 on the Singapore Exchange.  The SGX Nifty is an early indicator of the NSE (National Stock Exchange) Nifty in India. On Thursday, the Sensex and Nifty closed 1.87 per cent and 1.68 per cent higher respectively, breaking a slide in the past four sessions.

Asian shares ticked up to four-month highs on Friday on hopes the leaders from the United States and China could strike a trade deal and as the Federal Reserve appeared to have all but abandoned a plan to raise borrowing rates further.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.1 per cent after a stellar 7.2 per cent gain in January. Japan’s Nikkei gained 0.5 per cent. Oil prices held firm, with US crude futures gaining 22 cents, or 0.4 per cent, to $54.01 per barrel.