Flat start on cards! Stock-specific trading the way to move forward in markets!

The majority of the markets across the globe are seen riding higher on the optimism that the encouraging results by the clinical trial of the vaccine will soon put an end to damage caused by Coronavirus and the economy would find its mojo back.

However, Indian markets, which had already registered a fresh all-time high in the last trading session, is likely to see a quiet start as SGX Nifty indicates that Nifty may open around 12,962.50 levels, up by 9 points.

Traders would be better off staying away from index trading as in the last session, we saw a glimpse of volatility rearing its ugly head as India VIX shot up 6 per cent, and over the last one week or so, the index has stuck in a range. Now, only a breach of the range of 12,730-12,970 would lead to a trending move in the index. Till then, better to focus on a stock-specific move.

The majority of the Asian markets were trading in the green on Tuesday following positive cues overnight from Wall Street as clinical trial data from AstraZeneca acted music to the ears of bulls. Japan’s Nikkei 225, which resumed trading after a long weekend, is on cloud nine as it has crossed the milestone mark of 26,000 and was up by over 2.5 per cent. Hong Kong’s Hang Seng had added 0.06 per cent while China’s Shanghai Composite was down by nearly half a per cent.

Indian markets ended Monday's session with a gain of nearly half a per cent with Nifty and Sensex closing above the key psychological level of 12,900 and 44,000, respectively. The broader markets outperformed the headline indices. Nifty Mid-cap and Small-cap rose 1.31 and 2.06 per cent, respectively. Among sectoral indices, Nifty IT, Nifty Pharma, and Nifty Metal were the top gainers; while on the other hand, Nifty Financial Services and Nifty Bank were the top losers.

US stocks edged higher on Monday on the back of encouraging news on the vaccine. Promising results from the late-stage trials of Oxford-AstraZeneca bolstered the sentiment on Wall Street as the virus continues to swell from one corner to the other in the US.

Dow jumped 1.1 per cent to end above the 29,500 mark; S&P 500 gained 0.6 per cent to close at 3,578 and Nasdaq settled 0.2 per cent higher at 11,881. Meanwhile, European indices, after showing promising signs in the first half of the trading session, took a U-turn as a combination of concerns about the rising Coronavirus cases, fresh lockdown restrictions, and disappointing PMI numbers, grappled the investors.