SGX Nifty indicates positive start

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 103 points at the opening bell.

Global markets:

Asian stocks are trading lower on Monday as investors in the region continue to watch for developments surrounding the recently discovered omicron Covid variant. Britain and European countries have restricted travel from southern Africa, where the variant was detected.

The World Health Organization (WHO) said in a Sunday statement that it was still unclear whether infection with the omicron Covid variant causes more severe disease as compared with other strains, including delta.

U.S. stocks dropped sharply on Friday as a new Covid variant found in South Africa triggered a global shift away from risk assets. Friday was a shortened trading day because of the Thanksgiving holiday.

Domestic markets:

Back home, the equity benchmarks had dropped sharply on Friday.

Foreign portfolio investors (FPIs) sold shares worth Rs 5,785.83 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,294.11 crore in the Indian equity market on 26 November, provisional data showed.

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