Market may open in red amid negative global signals

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could decline 102 points at the opening bell.

India Trade Data:

India's merchandise exports in November 2021 was $29.88 billion, an increase of 26.49% over $23.62 billion in November 2020 and an increase of 15.93% over $25.77 billion in November 2019.

India's merchandise exports in April-November 2021 was $262.46 billion, an increase of 50.71% over $174.15 billion in April-November 2020 and an increase of 24.29% over $211.17 billion in April-November 2019.

India's merchandise imports in November 2021 was $53.15 billion, an increase of 57.18% over $33.81 billion in November 2020 and an increase of 37.96% over $38.52 billion in November 2019.

India's merchandise imports in April-November 2021 was $384.44 billion, an increase of 75.39% over $219.19 billion in April-November 2020 and an increase of 18.44% over $324.59 billion in April-November 2019.

The trade deficit in November 2021 was $23.27 billion, while it was $121.98 billion during April-November 2021.

Global markets:

Overseas, Asian stocks were mixed on Thursday as concerns over the economic impact of the omicron Covid variant continue to weigh on investor sentiment.

The number of COVID-19 cases in South Africa almost doubled, while the UK, Switzerland and Brazil reported cases of the omicron variant.

US stocks witnessed a sharp reversal overnight after the Centers for Disease Control and Prevention confirmed the first case of omicron in the US.

The Dow Jones Industrial Average dropped 461.68 points to 34,022.04 while the S&P 500 declined 1.18% to 4,513.04. The Nasdaq Composite fell 1.83% to 15,254.05.

Meanwhile, US Fed Chairman Jerome Powell said that he expects policymakers to discuss the possibility of a faster taper schedule at the meeting this month.

Domestic markets:

Equity indices ended with strong gains on Wednesday, tracking strong global cues. Positive domestic economic data also boosted sentiment. The S&P BSE Sensex, gained 619.92 points or 1.09% to 57,684.79. The Nifty 50 index added 183.70 points or 1.08% to 17,166.90.

Foreign portfolio investors (FPIs) sold shares worth Rs 2765.84 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3467.02 crore in the Indian equity market on 1 December, provisional data showed.

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