Americans are only left with a handful of hours to decide their next President.
The domestic stock markets are likely to open in the green on Tuesday, tracking strength in the global markets as Americans go to vote to decide their next President.
Global markets led by the Wall Street, and followed by the Asian markets, were trading in the green for the second straight session on Tuesday after the Federal Bureau of Investigation gave Democratic Presidential candidate Hillary Clinton a clean chit in the e-mail scandal that has plagued her campaign.
"Wall Street shares soared between 2.1 and 2.4%, recording their biggest one-day percentage gain since March 1, with the S&P 500 and the Dow Jones Industrial Average recovering all their losses from the previous week," a Reuters report said.
The benchmark 30-share BSE Sensex closed 184.84 points above the green line on Monday, at 27,458.99 or 0.68% from previous close buoyed by the strength in the global markets as Clinton seemed the likely winner of the race to the White House. The broader National Stock Exchange (NSE) Nifty closed the day at 8,497.05, up 63.30 or 0.75% from Monday's close.
On Tuesday, the dollar extended its biggest one-day increase against the yen in almost four months seen on Monday, to climb 0,1% to 104.43 yen, the report added. Asian shares were also trading stronger in early trade.
According to an India Ratings' report, "Both global and domestic markets are likely to be singularly focused on the outcome of the US presidential elections to be held on November 8.
"Domestically, currency and debt markets are likely to take cues from global developments amid this otherwise data-light week," the report said.
The keenly awaited US elections will set the tone for the markets this week. In the run-up to elections, both equity and debt markets have corrected as both lead candidates have close possibilities to win the elections, it added.
"Additionally, uncertainties over timeline and modalities of Brexit have kept investors’ sentiments cautious," the report added. UK Prime Minister Theresa May is in India on her maiden visit.
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