Sensex, Nifty Set To Gain; SBI, PNB, Adani Power, Wockhardt, Hindustan Copper In Focus
Stocks in Asia gained on Wednesday after rise in U.S. equities and a pullback in bond yields which provided some respite for investors.
Benchmarks rose in Japan, Australia and South Korea. U.S. futures slipped after the S&P 500 erased last week’s losses with two day of gains.
The Singapore-traded SGX Nifty, an early barometer of India’s benchmark Nifty 50, rose 0.4% to 16,488 points as of 6:40 a.m.
The World Bank cut its forecast for global economic expansion in 2022 further, warning that several years of above-average inflation and below-average growth lie ahead.
Elsewhere, West Texas Intermediate crude rose 0.2% to $119.67 a barrel. Bitcoin rose above $30,500.