Stocks may open in positive zone

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 49 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher on Monday trade as investors continue to watch for coronavirus developments. Markets in Japan are closed for a holiday.

On the economic data front, Singapore's economy contracted 5.8% in the third quarter, according to the country's Ministry of Trade and Industry.

Developments surrounding the coronavirus will likely continue to weigh on investor sentiment. South Korea is set to impose stricter distancing regulations for the greater Seoul area and southwestern region in an attempt to stem a resurgence of the coronavirus, as per reports.

In US, stocks fell on Friday as rising new coronavirus cases, coupled with questions around central-bank funding for key emergency programs, cast doubt on a swift economic recovery.

Also weighing on sentiment Friday was a disagreement between the Treasury Department and the Federal Reserve over the continuation of funding for some of the emergency programs implemented during the recession.

On the coronavirus vaccine front, Pfizer and BioNTech said they applied for an emergency use authorization for their vaccine from the Food and Drug Administration. The companies said they can be ready to ship the vaccine within hours after the FDA approves the authorization.

Domestic markets:

Back home, key equity benchmarks ended a volatile session with modest gains on Friday. A recovery in global stock markets supported buying in domestic shares. The barometer index, the S&P BSE Sensex, rose 282.29 points or 0.65% at 43,882.25. The Nifty 50 index advanced 87.35 points or 0.68% at 12,859.05.

Foreign portfolio investors (FPIs) bought shares worth Rs 3,860.78 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,868.66 crore in the Indian equity market on 20 November, provisional data showed.

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