SGX Nifty indicates lower opening

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 42 points at the opening bell.

Global markets:

Overseas, Asian markets were trading marginally lower on Friday amid concerns over rising Covid cases in China and inflation in Japan.

Markets in the US were closed for the Thanksgiving holiday on Thursday and will close early on Friday.

Inflation in the euro area will hover around its current level over the next few months before starting to decline at some point during the first half of 2023, European Central Bank Vice President Luis de Guindos said on Thursday. Speaking at a financial event in Milan, de Guindos said inflation was likely at its peak or anyway close to it.

Domestic markets:

Back home, domestic equity benchmarks extended the winning streak for the third consecutive session on Thursday, amid firm global cues backed by dovish US Federal Reserve minutes. The barometer index, the S&P BSE Sensex, jumped 762.10 points or 1.24% to 62,272.68. The Nifty 50 index gained 216.85 points or 1.19% to 18,484.10.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,231.98 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 235.66 crore in the Indian equity market on 24 November, provisional data showed.

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