Market may open lower, macro economic data eyed

Indices are poised for a weak opening. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 49 points at the opening bell. Adani Ports & Special Economic Zone, Coal India and Hindalco Industries will announce their quarterly results today, 11 November 2019.

On the macro front, India's industrial production data for September 2019 will be announced today, 11 November 2019. Manufacturing production data for September 2019 will also be announced today.

Overseas, Asian stocks were trading lower on Monday led by slide in Hong Kong shares after two protesters were shot by police during the morning commute.

In US, the three major stock indexes posted record closing highs on Friday as investors brushed aside worries over the progress of U.S.-China trade talks and as Walt Disney shares rose.

Meantime, Saudi Aramco will allow investors to start bidding for shares starting on November 17. The firm said it'll provide the number and percentage of shares sold at a later stage, with book-building kicking off this week.

U.K.'s sovereign credit rating was placed on negative outlook by Moody's Investors Service, which said the country's ability to set policy has weakened in the Brexit era along with its commitment to fiscal discipline.

Back home,the market reversed two-rising streak amid broad based selling pressure on Friday. Sentiment was affected after Moody's cut India's credit ratings outlook to negative from stable, citing the government's struggle to lift economic growth and narrow the budget deficit. The barometer index, the BSE Sensex fell 330.13 points or 0.81% to close at a 40,323.61. The Nifty 50 index fell 103.90 points or 0.86% to 11,908.15.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 932.20 crore on Friday, 8 November 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 584.48 crore on Friday, 8 November 2019, as per provisional data.

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