Asian stocks advanced Tuesday after their U.S. counterparts notched yet more all-time highs as investors awaited second-quarter earnings season.
An MSCI gauge of the region’s stocks rose for a second day, with modest gains across the board.
India’s SGX Nifty 50 Index futures for July delivery rose 0.8% to 15,817.50, while MSCI Asia Pacific Index gained0.8%. The NSE Nifty 50 Index was little changed Monday at 15,692.60.
U.S. futures fluctuated after the S&P 500 and tech-heavy Nasdaq 100 closed at new highs. Investors are also focusing on the U.S. inflation report and Federal Reserve Chair Jerome Powell’s testimony this week as policy makers prepare to discuss tapering stimulus as the economy recovers from the pandemic.
Elsewhere, oil was steady after dipping for the first time in three days as traders grappled with the demand implications of a Covid-19 resurgence in several regions and slowing economic growth in China.
Back home, Tata Metaliks is scheduled to report earnings Tuesday. Adani Power, Adani Green, Adani Transmission, Mindtree are among companies holding their annual shareholders’ meeting. Foreign investors sold net Rs 1,000 crore of stocks on June 9, according to NSDL website.