India Markets closed

Market may open in positive zone

·1-min read

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 52 points at the opening bell.

The annual rate of inflation based on Wholesale Price Index (WPI), stood at 1.48% (provisional) in October 2020 (over October 2019). The figure stood at 1.32% in September.

Global markets:

Overseas, Asian stocks are trading higher on Tuesday as vaccine hopes once again lifted Wall Street to record highs. Airline stocks got a boost.

In US, Wall Street was buoyed to record highs on news of another promising coronavirus vaccine, which supported hopes of a quicker economic recovery.

Investor sentiment shot up after Moderna Inc said its experimental COVID-19 vaccine was 94.5% effective in preventing infection based on interim late-state data. The Cambridge, Massachusetts-based firm became the second drugmaker, after Pfizer Inc, to announce promising trial data in the development of a vaccine to defeat the pandemic.

Domestic markets:

Back home, key benchmarks trimmed initial gains and ended with decent gains on the Muhurat trading session on Saturday. The barometer index, the S&P BSE Sensex, gained 194.98 points or 0.45% at 43,637.98. The Nifty 50 index added 60.30 points or 0.47% at 12,780.25. Stock markets were closed on Monday, 16 November 2020 on account of Diwali Balipratipada.

Foreign portfolio investors (FPIs) sold shares worth Rs 78.53 crore, while domestic institutional investors (DIIs), were also net sellers to the tune of Rs 20.27 crore in the Indian equity market on 13 November, provisional data showed.