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 54 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mostly lower on Monday as investors react to China's trade data released over the weekend.

Official data released over the weekend showed China's exports surging 27.1% in October as compared with a year ago.

Wall Street stocks jumped early Friday, lifting markets to fresh records following a strong US jobs report and a Pfizer announcement about a promising COVID-19 treatment.

Meanwhile, Pfizer announced that a clinical trial of its pill to treat COVID-19 showed an 89% reduction in risk of hospitalization or death among adult patients at high risk of progressing to severe illness.

On the macro front, the US economy added 531,000 jobs last month and job gains in the prior two months were higher than originally reported, while the unemployment rate dropped to 4.6%, according to government data.

Domestic markets:

Back home, the domestic equity barometers ended with modest gains on the Muharat trading day on Thursday, 4 November 2021. The barometer index, the S&P BSE Sensex, gained 306.74 points or 0.51% to 60,078.66. The Nifty 50 index added 87.60 points or 0.49% to 17,916.80. The exchanges were closed on Friday, 5 November 2021, on the occasion of Diwali Balipratipada.

Foreign portfolio investors (FPIs) sold shares worth Rs 328.11 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 38.25 crore in the Indian equity market on 4 November, provisional data showed.

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