Flat opening on the cards; GDP data eyed

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 8 points at the opening bell.

In economic data, the National Statistics Office will release the July-September quarter gross domestic product data today, 27 November 2020.

Global markets:

Overseas, Asian stocks are trading little changed on Friday as investors react to data on China's industrial profits for October.

Profits at Chinese industrial firms rose 28.2% year-on-year in October to 642.91 billion yuan ($97.79 billion), official data showed on Friday, pointing to a steady recovery in the manufacturing sector after it was hard hit by the COVID-19 pandemic. Profits rose for a sixth straight month in October, after increasing by 10.1% year-on-year in September, the data from the National Bureau of Statistics (NBS) showed.

Markets will also scrutinize concerns over the Oxford-AstraZeneca vaccine candidate, with results and methods used in their phase three vaccine trials under criticism from experts in the U.S. As the race for a coronavirus vaccine continues, questions are being raised over AstraZeneca's vaccine candidate, for which the firm said combined results revealed it to be 70% effective.

In US, financial markets were closed on Thursday for the Thanksgiving holiday and U.S. bonds and stocks will trade on a partial schedule on Friday.

Domestic markets:

Back home, equity indices bounced off day's lows and ended with strong gains on Thursday. The S&P BSE Sensex, jumped 431.64 points or 0.98% at 44,259.74. The Nifty 50 index spurted 128.60 points or 1% at 12,987.

Foreign portfolio investors (FPIs) bought shares worth Rs 2,027.31 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 3,400.10 crore in the Indian equity market on 26 November, provisional data showed.

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