US manufacturing activity hit a nearly 3-1/2-year high last month and construction spending rebounded strongly in July, data showed, raising hopes of higher oil demand in the world's biggest consumer of the commodity.
Both indices managed to hold important levels i.e. 20000 level on the Sensex and 6000 on the Nifty.
Nikkei climbs for fourth straight day on a weaker yen and finished above 14,000 on Tuesday as blue chip exporters gained on a weaker yen. US manufacturing data too lifted investor sentiment.
Wall street kicked off the new quarter with good gains on the back of positive ISM factory index data and better expectations out of the US jobs market data this week.
Here is a look at a few stocks to keep on your radar this morning.
Crude prices inched higher in Asia today with markets taking a breather after volatile trade a day ago as bearish US manufacturing data quashed initial euphoria over a debt deal, analysts said.
Oil prices rose to a 27-month peak on Monday as upbeat European and US manufacturing data and forecasts for cold weather reinforced optimism about economic and energy demand growth.