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Market may open lower

·1-min read

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 45 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Wednesday, as investors await a speech from Chinese President Xi Jinping. China's Xi is set to deliver a speech in Shenzhen, as per media reports. That comes as the Shenzhen Special Economic Zone celebrates the 40th anniversary of its establishment.

In US, Wall Street lost ground on Tuesday, with halted COVID-19 vaccine trials and an elusive U.S. stimulus agreement weighing on sentiment. Apple unveiled on Tuesday its first-ever 5G iPhone. Apple shares dropped 2.7%, however, after rallying 6.4% on Monday. Disney rallied 3.2% after announcing a major company reorganization with streaming at the forefront of its business.

U.S. regulators paused Eli Lilly's trial of a coronavirus antibody treatment due to safety concerns. That came after Johnson & Johnson's coronavirus vaccine trial was paused after a participant had an unexplained illness.

Domestic markets:

Back home, the benchmark indices ended a tad above the flat line on Tuesday. The S&P BSE Sensex, rose 31.71 points or 0.08% at 40,625.51. The Nifty 50 index added 3.55 points or 0.03% at 11,934.50.

Foreign portfolio investors (FPIs) bought shares worth Rs 832.14 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,674.46 crore in the Indian equity market on 13 October, provisional data showed.



Source: Capitalmarket.com