Market poised for soft opening

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 15 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Friday as investors continue to wait for a result from the U.S. election. Democrat Joe Biden reportedly crept closer to victory over U.S. President Donald Trump by leading with razor-thin margins in a handful of states where votes are still being counted.

In US, stocks jumped on Thursday on hopes the winner of the U.S. presidential and congressional elections would soon be determined, with shares of major tech-related companies leading the gains.

The US Federal Reserve said Thursday it kept interest rates unchanged near zero, noting the economy remained well below pre-pandemic levels.

Domestic markets:

Back home, domestic equity benchmarks ended near the day's high after a robust rally on Thursday. The barometer index, the S&P BSE Sensex, surged 724.02 points or 1.78% at 41,340.16. The Nifty 50 index jumped 211.80 points or 1.78% at 12,120.30.

Foreign portfolio investors (FPIs) bought shares worth Rs 5,368.31 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,208.18 crore in the Indian equity market on 5 November, provisional data showed.

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