Asian stocks rebounded sharply on Thursday after weeks of uncertainty as Wall Street helped sooth investors’ edgy nerves. Global markets showed signs of regaining their footing after an extended rout fueled by growth concerns.
All of this would not have been possible if a key Federal Reserve official had not hinted that, considering the recent market turmoil, a September rate increase by the US had become less likely.
NEW DELHI: The 50-share Nifty index is expected to open lower on Tuesday following muted trend seen in other Asian markets. Tracking the momentum, the index may retest its crucial psychological level of 8350 in trade today. At 07:30 a.m., Nifty India stock futures in Singapore were trading 11 points higher at 8351 indicating flat-to-negative opening on the domestic market. The 30-stock Sensex ended the day in red at 27,643.88, down 313.62 points. The broader 50-share Nifty closed the session at 8,370.25, down 88.70 points.