Market may open slightly lower

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 8 points at the opening bell.

Overseas, most Asian stocks declined on pessimism about escalating trade tensions. Weakness in some of the biggest technology companies sent US stocks tumbling yesterday, 19 November 2018 as pessimism about escalating trade tensions between the US and China added to concerns about potential new regulations coming for the industry.

Back home,domestic shares jumped on Monday, on improving risk appetite backed by stability in crude oil prices and foreign portfolio investors turning net buyers of Indian equities in the past few trading sessions. The Sensex rose 317.72 points or 0.90% to settle at 35,774.88, its highest closing level since 3 October 2018.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 1103.36 crore yesterday, 19 November 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 310.26 crore on yesterday, 19 November 2018, as per provisional data.

Among corporate news,Yes Bank announced that Rentala Chandrashekhar, independent director has tendered his resignation from the bank's board, with immediate effect, due to personal reasons. The announcement was made after market hours yesterday, 19 November 2018.

On the political front, second phase of assembly elections will be held in Chhattisgarh today, 20 November 2018. Assembly elections in Madhya Pradesh and Mizoram will be held on 28 November 2018. Polling in Rajasthan and Telangana will be held on 7 December 2018. Counting of votes will be held across all the five states on 11 December 2018.

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