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Market may open lower; GDP data awaited

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 26 points at the opening bell.

India's GDP data for September quarter is scheduled to be published after market hours today, 29 November 2019. Ratings firm ICRA expects further deterioration in the growth of India's GDP to 4.7% in Q2 of FY2020, due to weakening momentum in the industry.

Overseas, Asian stocks were trading lower as investors worried a new US law backing Hong Kong protests could derail Washington's and Beijing's efforts to end their trade war.

U.S. financial markets were closed Thursday for Thanksgiving Day and will have an abbreviated trading schedule on Friday.

Back home,key market barometers ended with decent gains on Thursday. Indices witnessed significant volatility on account of expiry of November 2019 F&O contracts. The barometer index, the BSE Sensex, rose 109.56 points or 0.27% to 41,130.17, its record closing high. The Nifty 50 index rose 53.60 points or 0.44% to 12,154.30, its record closing high.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 1,008.89 crore yesterday, 28 November 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 155.47 crore yesterday, 28 November 2019, as per provisional data.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 29 2019. 08:31 IST