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At 7:45 am, the SGX Nifty quoted at 18,353 levels, up over 100 points.
Globally, the US markets shrugged off covid-19 concerns in China and inched up ahead of FOMC minutes reading. All major indices – Dow Jones, the S&P 500, and NASDAQ Composite closed over 1 per cent higher.
Markets in Asia-Pacific, too, were positive this morning as the S&P 200, Kospi, Kosdaq, and Hang Seng indices climbed up to 1 per cent.
At the commodities front, crude oil prices advanced after Saudi Arabia said that OPEC+ will stick with output cuts. Brent Crude rose 0.3 per cent to $88 per barrel, whereas WTI Crude increased 0.4 per cent to $81 per barrel.
Among individual stocks, shares of Vedanta will be in focus after the mining major declared a third interim dividend of Rs 17.5 per share.
Besides, shares of Union Bank of India will be closely tracked after the public sector lender is likely to issue tier-2 bonds worth Rs 2,200 crore next week.
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