Indian shares are set to open higher on Tuesday on the twin effect of RBI approving transfer of Rs 1.76 lakh crore surplus to the government, and finance minister Nirmala Sitharaman announcing a slew of measures to revive the economy.
In global markets, Asian stocks traded higher on Tuesday while safe-haven bonds sold off as signs China-US trade hostilities might be easing helped restore investor confidence after the previous session's rout.
On Monday, the Indian market settled with sharp gains, with benchmark equity indices the Sensex and the Nifty50 posting the biggest single-day gain in three months, boosted by the government's attempts to revive the economy.
The 30-share benchmark Sensex settled 793 points higher, or 2.16 percent up, at 37,494. The broader 50-share NSE index also ended higher at 11,058, up 228.50 points, or 2.11 percent.
At 7:18 AM, the SGX Nifty futures traded 27.50 points, or 0.25 percent, higher at 11,080, indicating a positive start for the Sensex and the Nifty.
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