Market may open on firm note

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 86 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher on Tuesday as investors shrugged off U.S. election jitters.

In US, stocks rose on Monday, as markets recovered some of the sharp losses from last week and braced for the U.S. presidential election. Ahead of Tuesday's election, Joe Biden reportedly held a substantial national lead over President Donald Trump.

The IHS Markit final U.S. manufacturing index rose to 53.4 in October versus an initial reading of 53.3. And the Institute for Supply Management's more closely watched manufacturing activity index climbed to a 13-month high of 59.3 last month from 55.4 in September. Readings over 50 indicate growth.

Domestic markets:

Back home, key benchmark indices ended with small gains after a roller-coaster session on Monday. Strength in HDFC and private banks made up for the losses incurred by index major Reliance Industries (RIL). The S&P BSE Sensex, gained 143.51 points or 0.36% at 39,757.58. The Nifty 50 index added 26.75 points or 0.23% at 11,669.15

Foreign portfolio investors (FPIs) bought shares worth Rs 740.61 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 533.97 crore in the Indian equity market on 2 November, provisional data showed.

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