Indices may open higher

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.

Trading could be volatile as traders roll over positions in the F&O segment from the near month November series to December series. The November 2020 F&O contracts expire today, 26 November 2020.

Global markets:

Overseas, Asian stocks are trading mixed on Thursday as investors reacted to minutes released overnight from the U.S. Federal Reserve's November meeting. The Bank of Korea on Thursday held steady on its key policy rate at a record low of 0.5%.

In US, the Dow Jones Industrial Average and the S&P 500 index closed lower on Wednesday as mounting U.S. layoffs in the wake of new mandated lockdowns to contain surging COVID-19 infections dampened investor risk appetite. The Nasdaq Composite outperformed.

The summary of the Fed meeting from earlier this month indicated that U.S. central bank officials discussed ways of getting more money into the economy, which is still recovering from the coronavirus pandemic.

The number of Americans filing first-time claims for jobless benefits increased further last week. Initial claims for state unemployment benefits totaled a seasonally adjusted 778,000 for the week ended November 21, compared to 748,000 in the prior week, the Labor Department said on Wednesday.

U.S. financial markets will be 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, the equity benchmark indices corrected sharply and ended with heavy losses on Wednesday. The barometer index, the S&P BSE Sensex, tumbled 694.92 points or 1.56% at 43,828.10. The Nifty 50 index fell 196.75 points or 1.51% at 12,858.40.

Foreign portfolio investors (FPIs) bought shares worth Rs 24.20 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,840.33 crore in the Indian equity market on 25 November, provisional data showed.

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