After a muted close in the previous session, the Sensex and Nifty opened in the green Tuesday, tracking overnight strength in US markets led by technology and banks.
US stocks closed higher Monday after bank gains and a rebound in leading technology stocks supported a broad rally following Wall Street’s longest series of weekly declines since the dotcom crisis more than 20 years ago. The Dow Jones Industrial Average rose 618.34 points or 1.98 percent to 31,880.24, the S&P 500 gained 72.39 points or 1.86 percent to 3,973.75 and the Nasdaq Composite added 180.66 points or 1. 59 percent to 11,535.28.
Asian stocks got off to a slow start on Tuesday after a rally on Wall Street was soured by an early decline in US stock futures. After a firmer close on Monday, Nasdaq futures lost 1.3 percent, with traders blaming a Snap profit warning that sent shares in the Snapchat owner down 28 percent. S&P 500 futures also lost 0.6 percent, handing off some of Monday’s 1.8 percent gain. As a result, the broadest MSCI index of Asia-Pacific stocks outside of Japan remained virtually flat, while Japan’s Nikkei fell 0.1 percent.
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