Sensex, Nifty ready to open higher; Reliance, Bharat Forge in brief

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Indian equity benchmarks are expected to open higher despite weakness in global indices, as indicated by the Nifty futures contracts traded on the Singapore Stock Exchange. SGX Nifty futures rose 0.64% to 14679. Meanwhile, Asian stocks fell on Tuesday as rising US Treasury yields and inflation prospects led to a further rotation out of bonds. big tech stocks responsible for a major rally on Wall Street during the pandemic.

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Australia’s S & P / ASX 200 index fell 0.11 percent and South Korea’s Kospi fell 0.87 percent early in trading. Hong Kong’s Hang Seng index futures rose 0.54 percent. Japanese markets are closed on Tuesday for a public holiday.

Overnight, the S&P 500 and Nasdaq closed lower on Monday as rising Treasury yields and the outlook for rising inflation sparked valuation issues, hitting stocks of growth companies high-flying.

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The Dow index finished slightly higher, supported by a 4% rise in Walt Disney Co. shares.

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Yields on benchmark 10-year US Treasuries rose 1.363 percent. Since the start of February, 10-year rates have risen by around 26 basis points, on track for their biggest monthly increase in three years.

Back home, Reliance Industries will be at the center of concerns after the company said it would get approvals to divest its petroleum business to chemicals by the second quarter of next fiscal year.

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Bharat Forge will be the focus as the company signed an agreement with Paramount Group to manufacture armored vehicles in India.

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