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Market may open on flat note

Capital Market 

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 4 points at the opening bell.

In economic data, the National Statistical Office (NSO) released the estimates of Gross Domestic Product (GDP) in the July-September period. Provisional estimates of gross domestic product for the second quarter of the year ending in March 2021 show economic output shrank by 7.5%, following the 23.9% contraction in the first quarter.

India's eight core industries growth for October was at -2.5%. The September growth number has been revised to -0.1% from -0.8% earlier.

Markit Manufacturing PMI for November will be declared today, 1 December 2020.

Global markets:

Overseas, most Asian stocks are trading higher as investors react to the release of a private survey of China's manufacturing activity.

The Caixin/Markit manufacturing Purchasing Managers' Index for November came in at 54.9. PMI readings above 50 signify expansion, while those below that level represent contraction.

In US, stocks dipped on Monday as the prospect of a vaccine-driven economic recovery and further central bank stimulus measures eclipsed immediate concerns about the spiking coronavirus pandemic.

Moderna Inc on November 30 applied for U.S. emergency authorization for its COVID-19 vaccine after full results from a late-stage study showed it was 94.1% effective with no serious safety concerns.

Domestic markets:

Back home, domestic equity indices ended a volatile session with small losses on Friday. The barometer index, the S&P BSE Sensex fell 110.02 points or 0.25% at 44,149.72. The Nifty 50 index declined 18.05 points or 0.14% at 12,968.95.

Foreign portfolio investors (FPIs) bought shares worth Rs 7,712.98 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 4,968.90 crore in the Indian equity market on 27 November, provisional data showed. Stock markets were closed on Monday, 30 November 2020 on account of Gurunanak Jayanti.

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

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First Published: Tue, December 01 2020. 08:34 IST
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