Market may open on weak note on negative global cues

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 95 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Thursday as investors await US inflation data, a key metric closely watched by the Federal Reserve.

Wall Street ended lower on Wednesday as investors awaited both the results of the U.S. midterm elections and key data on consumer prices that could impact the Federal Reserve's policy on interest rates. Data on the U.S. consumer price index (CPI) is due on Thursday.

The outcome of the midterm elections remained unclear as a better-than-expected showing by Democrats muddied the outlook for fiscal spending and regulation.

Domestic markets:

Back home, domestic shares ended lower on Wednesday, due to fag-end selling in absence of any major trigger. Negative global cues also triggered selling. The barometer index, the S&P BSE Sensex, declined 151.60 points or 0.25% to 61,033.55. The Nifty 50 index shed 45.80 points or 0.25% to 18,157.

Foreign portfolio investors (FPIs) bought shares worth Rs 386.83 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,060.12 crore in the Indian equity market on 9 November, provisional data showed.

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