Market may open lower

SGX Nifty:

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

Global markets:

Overseas, Asian stocks are trading lower on Monday, as the coronavirus situation in parts of North Asia remains serious. The coronavirus situation in parts of North Asia, such as Japan and South Korea, remains severe and could have weighed on investor sentiment.

China on Monday kept its Loan Prime Rates unchanged, in line with expectations from analysts. The one-year and five-year LPR were kept at 3.85% and 4.65%, respectively.

In US, stocks ended lower on Friday, pulled down by uncertainty around a coronavirus stimulus deal, while Tesla shares jumped in heavy trading in anticipation of their addition to the S&P 500 next week.

Meanwhile, Moderna Inc's coronavirus vaccine on Friday became the second to receive emergency use authorization (EUA) from the US Food and Drug Administration.

Domestic markets:

Back home, key equity indices ended with small gains on Friday (18 December 2020), supported by firmness in IT shares. The barometer index, the S&P BSE Sensex, rose 70.35 points or 0.15% to 46,960.69. The Nifty 50 index added 19.85 points or 0.14% at 13,760.55.

Foreign portfolio investors (FPIs) bought shares worth Rs 2,720.95 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,424.61 crore in the Indian equity market on 18 December 2020, provisional data showed.

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