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On completion of required governance and business changes to effect this transition, TCS will assume full responsibility of the Women's Center, securing its viability in the longer term and allowing it to continue to serve as a source of opportunity and skills development for women in the country.
TCS has launched this new suite of solutions and services to help global manufacturers and other ecosystem players accelerate their initiatives around autonomous and connected vehicles. Autoscape comprehensively addresses the technology and business challenges that these programs entail, like petabyte-scale driving data collection and analysis, development, validation and deployment of algorithms which guide autonomous vehicles in the real world.
The IoT Breakthrough Awards showcase the innovators, leaders and visionaries that exemplify the best in IoT technology solutions across the globe. Nominations were evaluated by an independent panel of experts within the IoT industry, with the winning products and companies selected based on a variety of criteria, including most innovative and technologically advanced products and services.
IUX for Workplace Resilience helps enterprises make it safer for employees to return to work amid COVID- 19 by combining risk analytics with key business relaunch functions such as workforce safety, regulation compliance, operational resilience, and customer engagement. It is part of TCS' Secure Borderless Workspaces™ model, which enabled its workforce of over 453,000 across 46 countries to work remotely in just a few weeks.
The software creates a safer workplace for employees with business-critical responsibilities that require them to be in the office. From concept to deployment, it took just four weeks for TCS to begin running the solution at its first location. Currently, TCS has successfully deployed the solution across nearly all its locations in 19 cities in India, and is doing so at key TCS facilities in the United States and Canada.
Infosys (up 2.48%), HCL Technologies (up 2.19%), Wipro (up 1.84%), TCS (up 1.73%), Coforge (up 1.69%), Larsen & Toubro Infotech (up 1.67%), Mphasis (up 1.51%) and Mindtree (up 0.59%) and Tech Mahindra (up 0.48%) advanced.
Accenture reported financial results for the first quarter of fiscal 2021, ended 30 November 2020, with revenues of $11.8 billion, an increase of 4% in U.S. dollars and 2% in local currency over the same period last year. Revenue growth for the quarter was reduced approximately 2 percentage points by a decline in revenues from reimbursable travel costs.
GAAP diluted earnings per share were $2.32, an 11% increase from $2.09 for the first quarter last year, including gains on an investment of $0.15 and $0.08, respectively. On an adjusted basis, EPS of $2.17 increased 8% from $2.01 for the first quarter last year.
Operating income was $1.89 billion, a 7% increase over the same period last year, and operating margin was 16.1%, an expansion of 50 basis points.
The company expects revenues for the second quarter of fiscal 2021 to be in the range of $11.55 billion to $11.95 billion, 1% to 4% growth in local currency, reflecting the company's assumption of a positive 3% foreign-exchange impact compared with the second quarter of fiscal 2020. For fiscal 2021, the company expects revenue growth to be in the range of 4% to 6% in local currency, compared with 2% to 5% previously, including a reduction of approximately 1 percentage point from a decline in revenues from reimbursable travel costs.
The Business Culture Awards celebrate forward-thinking organizations that set up their employees to succeed and recognize how their people's employment experience is fundamental to business performance. TCS was recognized for its culture of innovation that welcomes new ideas from across the organization, resulting in an industry-leading portfolio of intellectual property and a differentiated positioning as the preferred transformation partner to leading enterprises across the world.
TCS' Innovation Culture Program is aimed at scaling innovation across the company to make it a thinking organization. It offers employees across roles and designations, the opportunity to participate in weekly ideathons, hackathons and competitions. These events allow associates to generate ideas, wireframes and prototypes, as well as solve a range of customer problems innovatively. Over the last three years, this program has engaged over 100,000 employees, who collectively generated over 47,800 ideas, many of which have been lauded by customers.
Tata Consultancy Services Ltd rose for a third straight session today. The stock is quoting at Rs 2889.95, up 1.82% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.3% on the day, quoting at 13699.95. The Sensex is at 46758.62, down 0.28%. Tata Consultancy Services Ltd has added around 9.6% in last one month.
Meanwhile, Nifty IT index of which Tata Consultancy Services Ltd is a constituent, has added around 10.37% in last one month and is currently quoting at 22892.25, up 1.8% on the day. The volume in the stock stood at 27 lakh shares today, compared to the daily average of 30.61 lakh shares in last one month.
The benchmark December futures contract for the stock is quoting at Rs 2896.7, up 1.94% on the day. Tata Consultancy Services Ltd is up 29.65% in last one year as compared to a 11.75% gain in NIFTY and a 47.38% gain in the Nifty IT index.
The PE of the stock is 35.08 based on TTM earnings ending September 20.
SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 60 points at the opening bell.
Budget session:
The Union Budget 2021-22 would be presented on February 1. The Parliament session would be starting from January 29, and would be held in two phases. Subject to exigencies of government business, the session is likely to conclude on 8 April 2021.
Global markets:
Overseas, Asian stocks were mixed on Friday as investors regionally reacted to the release of U.S. President-elect Joe Biden's $1.9 trillion coronavirus rescue package.
U.S. President-elect Joe Biden on Thursday revealed details of a $1.9 trillion coronavirus rescue package. Biden's proposal, called the American Rescue Plan, includes some familiar stimulus measures in the hope of sustaining families and companies till vaccines are widely distributed. Some of the proposed measures include stimulus checks as well as unemployment support.
Shares of Chinese smartphone maker Xiaomi plunged in Friday after U.S. President Donald Trump's administration placed the firm on a blacklist of alleged Chinese military companies.
In US, stocks fell slightly on Thursday, with tech shares declining, as traders awaited the unveiling of a potentially big economic stimulus package.
Sentiment got a boost earlier in the session as trial data published late Wednesday showed that Johnson & Johnson's one-dose coronavirus vaccine is safe and generates a promising immune response.
Investors kept an eye on Federal Reserve Chair Jerome Powell, who struck a dovish tone in comments at a virtual symposium with Princeton University. Powell said the U.S. central bank is not raising interest rates anytime soon and rejected suggestions the Fed might start reducing its bond purchases in the near term.
Meanwhile, Donald Trump became the first president in U.S. history to be impeached twice when the House voted 232-197 on Wednesday to charge him with inciting riots at the Capitol.
Domestic markets:
Back home, the domestic equity benchmarks reversed early losses and ended with decent gains on Thursday. The barometer index, the S&P BSE Sensex, added 91.84 points or 0.19% to 49,584.16. The Nifty 50 index gained 30.75 points or 0.21% at 14,595.60.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,076.62 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 188.10 crore in the Indian equity market on 14 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 13 points at the opening bell.
Overseas, Asian stocks are trading mixed on Thursday as investors await the release of Chinese trade data for December.
On the coronavirus vaccine front, trial data published Wednesday in the New England Journal of Medicine reportedly showed Johnson & Johnson's one-shot Covid vaccine is safe and appears to generate a immune response in both young and elderly volunteers. J&J's vaccine candidate, which only requires one dose, could simplify logistics for health-care providers. The two vaccines currently authorized by the Food and Drug Administration from Pfizer-BioNTech and Moderna require two doses about three to four weeks apart.
In US, the S&P 500 and Nasdaq Composite closed slightly higher on Wednesday, led by tech shares, as traders kept an eye on interest rates, the political uncertainty coming out of Washington and a still raging pandemic. President-elect Joe Biden is expected to release details on his economic plan on Thursday.
The S&P 500 index gained 0.2% to end the day at 3,809.84, and the tech-heavy Nasdaq advanced 0.4% to 13,128.95. The Dow Jones Industrial Average closed just 8.22 points lower, or 0.03%, at 31,060.47.
Meanwhile, turmoil in Washington continues with the House on Wednesday impeaching U.S. President Donald Trump for inciting the attack on the U.S. Capitol last week.
Back home, the domestic equity barometers ended almost flat after a volatile session on Wednesday. Select autos and PSU banks advanced while pharma and financial stocks lagged. The barometer index, the S&P BSE Sensex, was down 24.79 points or 0.05% to 49,492.32. The Nifty 50 index added 1.40 points or 0.01% to 14,564.85.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,879.06 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,370.17 crore in the Indian equity market on 13 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 39 points at the opening bell.
On the macro front, the Index of Industrial Production (IIP) contracted 1.9% for November 2020, data released on Tuesday showed. The factory output in the country had grown at 3.6% in October. India's Consumer Price Index (CPI) eased to 4.59% in December from 6.93% in November.
Overseas, Asian stocks are trading mixed on Wednesday morning trade as investors watch for developments on the coronavirus front. In corporate news, Hong Kong-listed shares of Lenovo jumped after the firm announced Tuesday a proposed issuance and admission of Chinese depositary receipts on the Shanghai Stock Exchange's Science and Technology Innovation Board.
The Japanese government is set to expand the state of emergency to more areas on Wednesday, as per reports. That comes after Japanese Prime Minister Yoshihide Suga recently declared a state of emergency in Tokyo and three other areas in a bid to stem a rise in coronavirus infections. Meanwhile, local Chinese authorities in regions near Beijing are reportedly stepping up restrictions on social activity following a rise in new coronavirus cases.
In US, stocks closed along the flatline on Tuesday as traders weighed higher rates, possible stimulus and political turmoil.
Investors will watch for developments from Washington, with the U.S. House set to push ahead with efforts to remove President Donald Trump from office over his role in sparking last week's deadly attack on the Capitol. U.S. Vice President Mike Pence, however, said Tuesday night he will not remove Trump from office. The developments came just days ahead of President-elect Joe Biden's inauguration on January 20.
Back home, the domestic equity benchmark ended near the day's high on Tuesday. The barometer index, the S&P BSE Sensex, jumped, 247.79 points or 0.50% to 49,517.11. The Nifty 50 index added 78.70 points or 0.54% to 14,563.45.
Foreign portfolio investors (FPIs) bought shares worth Rs 571.47 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,334.50 crore in the Indian equity market on 12 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 12 points at the opening bell.
On the COVID-19 vaccine front, Bharat Biotech reportedly inked a purchase agreement with the Government of India on January 11 to provide 55 lakh doses of COVID-19 vaccine Covaxin at Rs 295 per dose. The pharma firm will be providing its coronavirus vaccine directly to 12 states, and the process will be completed in two days by January 14. Dispatches will begin from Hyderabad starting January 12. Bharat Biotech will be providing 38.5 lakh doses of the COVID-19 vaccine in stage 1 and 16.5 doses in stage 2.
Overseas, Asian stocks were trading mixed on Tuesday after shares on Wall Street pulled back overnight from all-time highs.
US stocks fell on Monday as investors assessed equity valuations and the outlook for more Covid-19 relief stimulus, along with ongoing political turmoil.
Tensions were high in Washington again to start the week as House Democrats introduced an article of impeachment on Monday against President Donald Trump for inciting the mob attack at the Capitol. The lower chamber plans to vote on the article sometime this week. Multiple Cabinet-level officials have quit since the riot, with President-elect Joe Biden set to be inaugurated on January 20.
Back home, domestic equity benchmarks jumped to end near the day's high on Monday, supported by rally in IT and auto shares. The barometer index, the S&P BSE Sensex, jumped 486.81 points or 1% to 49,269.32. The Nifty 50 index gained 137.50 points or 0.96% to 14,484.75.
Foreign portfolio investors (FPIs) bought shares worth Rs 3,138.90 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,610.13 crore in the Indian equity market on 11 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 61 points at the opening bell.
Overseas, Asian stocks are trading mixed on Monday, with South Korean stocks surging again on the back of big gains last week. Shares in South Korea's auto sector surged again on Monday following reports that Hyundai Motor and Apple are set to sign a partnership deal on autonomous electric cars. Markets in Japan are closed on Monday for a holiday.
In US, Wall Street scaled new highs on Friday as hopes of more stimulus from Washington were bolstered after U.S. President-elect Joe Biden said his economic package will be in the trillions of dollars.
In economic data, the US economy shed jobs for the first time in eight months in December. Nonfarm payrolls decreased by 140,000 jobs last month, the Labor Department said on Friday. Data for November was revised up to show 336,000 jobs added instead of 245,000 as previously reported.
Back home, the equity market ended with robust gains on Friday, mirroring strong global cues. The S&P BSE Sensex, jumped 689.19 points or 1.43% at 48,782.51. The Nifty 50 index rallied 209.9 points or 1.48% at 14,347.55.
Foreign portfolio investors (FPIs) bought shares worth Rs 6,029.83 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,372.54 crore in the Indian equity market on 8 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 74 points at the opening bell.
On the macro front, the central government projects the country's economy to contract by 7.7% in the current fiscal year 2020-21, as per the first advance estimates of gross domestic product released by the National Statistical Office on 7 January 2021.
Overseas, Asian stocks are trading mixed on Friday trade after stocks on Wall Street cruised to new record highs overnight. Shares of South Korean automaker Hyundai Motor soared following reports of a deal between the firm and Cupertino-based tech giant Apple on developing electric vehicles and batteries.
In US, stocks rose to all-time highs on Thursday as the U.S. Congress confirmed the election of Joe Biden as president early Thursday, a day after supporters of Donald Trump invaded the U.S. Capitol. Thursday marked the Nasdaq's first-ever close above 13,000. It was also the first time the Dow and S&P 500 ended a session above 31,000 and 3,800, respectively.
Traders continued to focus on the possibility for additional fiscal aid after the Democratic party secured a slim majority in the Senate, giving it control of both congressional chambers.
Sentiment on Wall Street also got a boost after the Institute for Supply Management said its index for nonmanufacturing activity in the U.S. rose to 57.2 in December from 55.9 in November.
Back home, the main equity indices closed mildly lower on Thursday. The S&P BSE Sensex, fell 80.74 points or 0.17% at 48,093.32. The Nifty 50 index fell 8.90 points or 0.06% at 14,137.35.
Foreign portfolio investors (FPIs) bought shares worth Rs 382.30 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 989.50 crore in the Indian equity market on 7 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could surge 78.50 points at the opening bell.
Overseas, Asian stocks are trading mixed on Thursday after the Dow Jones Industrial Average surged to an all-time high overnight despite unrest in Washington.
In US, the Dow and the S&P 500 ended higher, soaring to all-time highs on Wednesday, as investors piled into financial and industrial stocks on bets a Democratic sweep in Georgia would lead to more fiscal stimulus and infrastructure spending.
Stocks closed off their highs as pro-Trump rioters stormed the U.S. Capitol and caused Congress to suspend proceedings to confirm the election of Joe Biden as president. The Capitol was finally secured late Wednesday afternoon, and Congress resumed the process of counting electoral votes and confirming President-elect Joe Biden's victory.
Back home, market ended with modest losses on Wednesday. The barometer index, the S&P BSE Sensex, dropped 263.72 points or 0.54% at 48,174.06. The Nifty 50 index slipped 53.25 points or 0.38% at 14,146.25.
Foreign portfolio investors (FPIs) sold shares worth Rs 483.64 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 380.41 crore in the Indian equity market on 6 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 3 points at the opening bell.
The Union Budget for 2021-2022 will be presented on February 1 and President Ram Nath Kovind will address a joint sitting of both the Houses of Parliament on January 29.
Overseas, Asian stocks are trading mixed on Wednesday as investors anxiously awaited results of U.S. runoff elections that would determine the legislative balance of power in the world's largest economy.
A private survey showed services sector activity in China expanding at a slower pace in December, with the Caixin/Markit services Purchasing Managers' Index coming in at 56.3. That compared against November's reading of 57.8.
US stocks ended higher on Tuesday in choppy trading, ahead of the outcome of the Senate runoff elections in the battleground state of Georgia, which will determine the balance of power in Washington.
Investors also looked ahead to two key elections in Georgia, which will determine whether Republicans can hold on to control in the Senate. Many fear that increased tax rates and more progressive policies could weigh on the market if Democrats gain control of the Senate. However, such an outcome could create an opportunity for a bigger and faster spending package.
In U.S. economic data, the Institute for Supply Management said its manufacturing index rose to 60.7 in December — its highest level since August 2018 — from 57.5 in November.
Back home, domestic indices ended with modest gains on Tuesday, led by strength in IT, banks and financial shares. The barometer index, the S&P BSE Sensex, gained 260.98 points or 0.54% to 48,437.78. The Nifty 50 index added 66.60 points or 0.47% to 14,199.50.
Foreign portfolio investors (FPIs) bought shares worth Rs 986.30 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 490.03 crore in the Indian equity market on 5 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 105 points at the opening bell.
Overseas, Asian stocks are trading mixed in Tuesday trade following an overnight drop on Wall Street as fears surrounding the coronavirus pandemic lingered.
US stocks dropped on Monday, the first trading day of 2021, amid concerns about global coronavirus cases and the Georgia runoff elections.
Investors are keeping eye on Tuesday's Senate runoffs in Georgia, which could have a big impact on incoming U.S. President Joe Biden's economic policies.
In the U.K., Prime Minister Boris Johnson imposed a national lockdown on England to curb the spread of the new coronavirus variant. As part of the new restrictions, people can only leave their homes for essentials, work if they can't from home and exercise. Most schools will also move to remote learning, including universities.
Back home, domestic equity benchmarks closed with strong gains on Monday. The barometer index, the S&P BSE Sensex, gained 307.82 points or 0.64% to 48,176.80. The Nifty 50 index rallied 114.40 points or 0.82% to 14,132.90.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,843.22 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 715.21 crore in the Indian equity market on 4 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could jump 119 points at the opening bell.
Meanwhile, the Drugs Controller General of India (DCGI) on January 3 reportedly granted restricted emergency use authorisation for the Serum Institute of India (SII)'s ‘Covishield' and Bharat Biotech's ‘Covaxin' vaccines against COVID-19, the disease caused by the novel coronavirus. The ‘Covishield' vaccine, developed by University of Oxford and pharmaceutical giant AstraZeneca, is being produced in the country by the Serum Institute. Bharat Biotech has developed ‘Covaxin' – India's first indigenous vaccine against COVID-19.
Overseas, Asian stocks are trading mixed on Monday as the first trading day of 2021 kicked off.
A private survey released Monday showed Chinese manufacturing activity expanding in December, with the Caixin/Markit manufacturing Purchasing Managers' Index (PMI) for the month coming in at 53.0. That compared against November's reading of 54.9. The 50-level in PMI readings separates expansion from contraction.
The final au Jibun Bank Japan Manufacturing Purchasing Managers' Index (PMI) rose to a seasonally adjusted 50.0 in December from the previous month's 49.0 and a preliminary 49.7 reading.
Investors are cautiously watching runoff elections in Georgia for two U.S. Senate seats on Tuesday that will determine which party controls the Senate.
Back home, domestic shares clocked modest gains on the first day of the calendar year 2021. The barometer index, the S&P BSE Sensex, gained 117.65 points or 0.25% to 47,868.98. The Nifty 50 index added 36.75 points or 0.26% to 14,018.50.
Foreign portfolio investors (FPIs) bought shares worth Rs 506.21 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 69.40 crore in the Indian equity market on 1 January, provisional data showed.
Local stocks are likely to begin the first trading session of calendar year 2021 on a positive note.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 12 points at the opening bell.
Overseas, Asian stocks are shut today on account of New Year.
In US, Wall Street advanced on Thursday as investors closed the book on a turbulent year of pandemic, recession and recovery. All three major indexes gained ground, with the Dow and S&P 500 picking up steam in the session's final minutes to exit 2020 at record highs.
Back home, domestic equity barometers ended near the flat line on Thursday. The S&P BSE Sensex, added 5.11 points or 0.01% to 47,751.33. The Nifty 50 index lost 0.20 point to 13,981.75.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,135.59 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 257.64 crore in the Indian equity market on 31 December, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 3 points at the opening bell. Trading could be volatile as traders roll over positions in the F&O segment from the near month December series to January series. The December 2020 F&O contracts expire today, 31 December 2020.
Overseas, Asian stocks are trading mixed on Thursday. Markets in Australia, Singapore and Hong Kong are set to close earlier than usual on Thursday due to New Year's Eve. Markets in Japan and South Korea are closed on Thursday for a holiday.
China on Thursday said its factory activity expanded in December. The country's official manufacturing Purchasing Managers' Index (PMI) for December came in at 51.9, according to data from the National Bureau of Statistics. That was a slight decline compared to November's reading of 52.1. Still, the December figure was above the 50-level that separates expansion from contraction.
In US, stocks closed higher on Wednesday, with the Dow Industrials nudging up to a record, as investors looked towards an improving economic outlook in 2021 on the back of COVID-19 vaccine rollouts and hopes for even more fiscal support.
On the coronavirus front, the vaccine developed by the University of Oxford and AstraZeneca received authorization on Wednesday for emergency use in the U.K. Still, the U.K. government outlined plans on Wednesday to impose stricter coronavirus restrictions on millions of people across England as a new strain of the virus spreads across the country.
Back home, domestic equity benchmarks ended with decent gains on Wednesday, rising for the sixth consecutive session. The barometer index, the S&P BSE Sensex, added 133.14 points or 0.28% at 47,746.22. The Nifty 50 index advanced 49.35 points or 0.35% to 13,981.95.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,824.52 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 587.43 crore in the Indian equity market on 30 December, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 55 points at the opening bell.
Overseas, Asian stocks are trading mixed on Wednesday after major indexes on Wall Street snapped their multi-day winning streaks overnight.
In US, stocks slipped on Tuesday after reaching fresh all-time highs as traders weighed the possibility of even more fiscal stimulus being approved by Congress. All three of the major averages hit record highs at the open.
Back home, domestic equity benchmarks settled with decent gains on Tuesday, extending their uptrend for the fifth trading session. Positive global cues and robust FII inflows supported buying. The barometer index, the S&P BSE Sensex, rose 259.33 points or 0.55% to 47,613.08. The Nifty 50 index added 59.40 points or 0.43% to 13,932.60.
Foreign portfolio investors (FPIs) bought shares worth Rs 2,349.53 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,010.50 crore in the Indian equity market on 29 December, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 35 points at the opening bell.
Overseas, Asian stocks are trading higher on Tuesday, as hopes that a long-awaited U.S. pandemic relief package would be expanded and a Brexit trade deal supported investor risk appetites.
In US, stocks rallied on Monday, with each of Wall Street's main indexes closing at record levels as President Donald Trump's signing of a long-awaited $2.3 trillion pandemic aid bill increased optimism for an economic recovery.
Back home, the domestic equity benchmarks ended near the day's high on Monday, supported by positive global cues. The barometer index, the S&P BSE Sensex, rose 380.21 points or 0.81% to 47,353.75. The Nifty 50 index added 123.95 points or 0.90% to 13,873.20.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,588.93 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,386.55 crore in the Indian equity market on 28 December, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 53 points at the opening bell.
Overseas, Asian stocks edged higher on Monday as the final trading week of 2020 kicked off. Markets in Australia and New Zealand are closed on Monday for a holiday.
Profits at Chinese industrial firms in November rose 15.5% as compared with a year earlier, according to data released by the country's National Bureau of Statistics over the weekend.
In US, the S&P 500 ended higher at the close of a shortened session on Thursday as investors headed into the long Christmas weekend.
U.S. President Donald Trump signed into law a $2.3 trillion pandemic aid and spending package he had until now refused to sign.
Meanwhile, finally the United Kingdom prime minister Boris Johnson and European Commission president Ursula von der Leyen struck a trade deal on December 24 after hard negotiations for last nine months. The trade agreement contains provisions on several subjects including nuclear energy, fishing, aviation and medicines.
Back home, domestic indices ended with robust gains on Thursday, extending their winning run to third consecutive session. The S&P BSE Sensex, jumped 529.36 points or 1.14% at 46,973.54. The Nifty 50 index gained 148.15 points or 1.09% at 13,749.25. Domestic stock market remained shut on Friday, 25 December 2020 on account of Christmas.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,225.69 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,897.92 crore in the Indian equity market on 24 December, provisional data showed.