Indian markets to continue their bull run on back of positive covid-19 vaccine trial results!

The Indian markets logged a fresh record high  in the short one-hour Diwali Muhurat trading session on Saturday. Though the Diwali festive is behind us, but the bulls are likely to continue their fireworks On Tuesday as the global peers are trading buoyant after the news emerged that Moderna’s vaccine candidate has proven to be 94.5 per cent effective in preventing Covid-19 infection.  The SGX Nifty was trading up by 50 points at 12,886.50 levels.

On Saturday, Indian markets began the Samvat 2077 as Sensex and Nifty logged gains of nearly half a percent. All the sectoral indices ended in green wherein Nifty IT and Nifty Realty were top gainers.

Majority of the Asian markets are in a cheerful mood on Tuesday as the news of potential candidate of Covid-19 comes in focus after Moderna said that its vaccine is 94.5 per cent effective in preventing Covid-19 infection. Japan’s Nikkei 225 and Hong Kong’s Hang Seng eked out modest gains, while China’s Shanghai Composite was down by 0.40 per cent.  

In an overnight development, US kicked off the week on a jubilant note on back of optimism surrounding the vaccines news. Meanwhile, the economic data came in below the expectation as the Empire Manufacturing Index, declined to 6.3 in November. At close, the Dow led from the front as it surged 1.6 per cent and is within striking distance from the milestone level of 30,000, followed by the S&P 500 which ended higher by 1.2 per cent and the tech-heavy NASDAQ added 0.8 per cent.