Market may open lower

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 55 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Tuesday as concerns about increasing COVID-19 deaths, infections and lockdowns overshadowed optimism about the start of coronavirus vaccinations.

China's industrial production grew 7% year-on-year in November, the country's National Bureau of Statistics announced Tuesday. Meanwhile, retail sales in China increased 5% in November as compared with a year ago.

In US, the Dow Jones Industrial Average and S&P 500 fell on Monday as fears of additional Covid-19 restrictions offset the optimism around a vaccine rollout. The Nasdaq Composite outperformed.

Meanwhile, lawmakers in Washington tried once again to push forward on a new coronavirus stimulus package. A bipartisan group of congressional members plans to release a $908 billion stimulus package. However, some key disagreements remain between both parties, particularly over state and local government aid.

Domestic markets:

Back home, key equity indices managed to end a volatile session with decent gains on Monday. The barometer index, the S&P BSE Sensex, rose 154.45 points or 0.34% at 46,253.46. The Nifty 50 index gained 44.30 points or 0.33% at 13,558.15.

Foreign portfolio investors (FPIs) bought shares worth Rs 2,264.38 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,721.11 crore in the Indian equity market on 14 December, provisional data showed.

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