Market may open on a flat note

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 5 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher on Tuesday as investors in the region react to more positive coronavirus vaccine news, as well as U.S. President-elect Joe Biden's choice of former Federal Reserve Chair Janet Yellen as Treasury secretary. Yellen oversaw a solid economic expansion during her term as Fed chair from 2014 to 2018 in the wake of the financial crisis.

Meanwhile, the Trump administration has begun the transition process to President-elect Biden, making federal resources available for his transition into office.

In US, stocks rose on Monday after AstraZeneca and the University of Oxford said their coronavirus vaccine was up to 90% effective, becoming the third inoculation this month that was revealed to be effective in trial data.

In economic data, IHS Markit said their U.S. manufacturing and services purchasing managers' indexes hit multiyear highs. The flash U.S. services index rose to 57.7, its highest level in more than five years. The manufacturing PMI popped to 56.7, its highest level in over six years.

Meanwhile, UK Prime Minister Boris Johnson announced Monday the country's national lockdown would end on December 2 with certain conditions in place.

Domestic markets:

Back home, domestic benchmark indices ended with modest gains on Monday, tracking positive global cues on hopes for imminent coronavirus vaccines. The barometer index, the S&P BSE Sensex, rose 194.90 points or 0.44% at 44,077.15. The Nifty 50 index advanced 67.40 points or 0.52% at 12,926.45.

Foreign portfolio investors (FPIs) bought shares worth Rs 4,738.44 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,944.05 crore in the Indian equity market on 23 November, provisional data showed.

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