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Positive bias seen for Nifty at open
March 03, 2021
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Concerns on rising bond yields have softened after central bankers across the world have pushed back against higher rates
After gaining sharply in the last couple of days, Indian markets are likely to open flat on Wednesday. The SGX Nifty at 15,020 points to a 60-point positive opening for Nifty futures, which on Tuesday closed at 14,958.15.
Global markets too present a firm trend with most of Asia-Pacific ruling in positive territory though overnight the US markets closed in the red.
Concerns pertaining to rising bond yields appear to have softened a bit after central bankers across the world have begun to push back against higher rates. This should offer some comfort to Indian equities and INR as rising bond yields in the US and declining spreads between US Treasury yields and India’s G-Sec yields had started putting pressure on INR.