Opening Bell: Market Rose After China Said It Would Drop Its Quarantine

Opening Bell: Trends in the SGX Nifty indicate a positive opening for the broader index in India with a gain of 37.50 points on Tuesday.

The domestic indices BSE Sensex and NSE Nifty opened in the green as indicated by SGX Nifty. Sensex added 286 points to trade at 60,852 while Nifty was at 18,094, gaining 80 points or 0.5%. Bank Nifty added 0.6% to trade at 42,907. All of BSE Sensex-30’s constituents are trading in green.

All Nifty’s sectoral indices are in the positive territory with Nifty PSU Bank gaining 1.82% in the morning. The broader markets also opened higher, Nifty Midcap 100 and Nifty Smallcap 100 rose by 1.08% and 1.45% respectively.

World share market

Opening Bell: Asian share market rose on Tuesday after China said it would drop its quarantine requirements for inbound visitors, further easing three-year border controls aimed at curbing COVID-19.

China will stop requiring inbound travelers to go into quarantine starting from 8 January 2023, the National Health Commission said on Monday. It will also downgrade the seriousness of COVID-19 as it has become less virulent and will gradually evolve into a common respiratory infection.

The Nifty 50 indicated a positive opening on Dalal Street. Further, the Dow Jones Futures climbed 0.56%, while Nasdaq 100 Futures surged 0.92%.

U.S. stock futures, the S&P 500 e-minis, inched up 0.61%, indicating the market is set to rise as traders return to their terminals on Tuesday after the Christmas holiday.

Opening Bell: By Tuesday morning in Hong Kong, MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.5%. China’s bluechip gained 0.6% and Japan’s Nikkei stock index rose 0.43%. Early in trade, South Korea’s Kospi rose 0.7%, and China’s Shanghai Composite advanced 0.4%.

Oil prices ticked up on thin trade on Tuesday, on concerns that winter storms across the United States are affecting logistics and production of petroleum products and shale oil. However, forecasts report that the weather is likely to improve next week, so the rally may not last too long.

Brent Futures rose 0.73% to $85.12/barrel and WTI Futures gained to $80.21/barrel. Natural Gas Futures jumped 3%.

Bitcoin price today was unchanged with the world’s largest and most popular digital token trading almost flat at $16,870. The global cryptocurrency market cap today remained below the $1 trillion mark, as it was almost flat in the last 24 hours to $847 billion.

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