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Market may open on flat note

·1-min read

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 3 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Wednesday as investors remained cautious despite vaccine hopes, even as coronavirus cases continued to surge.

Japanese exports in October did much better than expected, falling 0.2%, according to the Ministry of Finance. It followed a 4.9% drop in September. Exports were helped by a rise in demand for Japanese cars by China and the U.S., which drove up shipments.

In US, stocks retreated from record closing highs on Tuesday, ending lower as surging COVID-19 cases, the growing threat of a fresh round of economic lockdowns and weak retail sales data dampened the euphoria caused by potential vaccine breakthroughs.

On Tuesday, U.S. Fed Chair Jerome Powell warned that the surge in cases is a concern for an economic recovery that has “a long way to go.”

Domestic markets:

Back home, domestic equity indices ended near the day's high on Tuesday, tracking strength in other Asian indices. The barometer index, the S&P BSE Sensex, rose 314.73 points or 0.72% at 43,952.71. The Nifty 50 index advanced 93.95 points or 0.74% at 12,874.20.

Foreign portfolio investors (FPIs) bought shares worth Rs 4,905.35 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 3,829.16 crore in the Indian equity market on 17 November, provisional data showed.



Source: Capitalmarket.com