BSE Sensex, NSE Nifty might rise today on hopes that Greece’s conditional bailout agreement would bring to an end that country’s debt crisis, though caution kept broad gains in check.
On Monday, Indian market gave the Greece deal a big thumbs-up with the benchmark BSE Sensex rising 300 points for the second day to 27,961.19 — its biggest single-day gain in three weeks — driven by across-the-board buying activity and tracking upbeat global stocks.
Meanwhile, oil prices skidded as the market awaited an announcement on a nuclear deal between Iran and six global powers that could lead to an easing of sanctions against Tehran and a resumption of its oil exports into an oversupplied market.
Australian shares are set for a strong open in line with a rally in global equities after Greece finally agreed a deal with its creditors, providing Athens with fresh bailout funds to rescue the debt-strapped nation from bankruptcy.
US stocks finished sharply higher on Monday, with the Dow Jones industrial average re-emerging in positive territory for the year, after euro zone leaders reached a tentative deal to bail out Greece.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up about 0.3 percent, while Japan’s Nikkei stock index added 1.7 percent, getting a tailwind from the weaker Japanese currency.