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Samvat 2077 to begin on upbeat note

Capital Market 

Trading for Samvat 2077 is likely to begin on strong note. Markets will remain open today, 14 November 2020 from 18:15 IST to 19:15 IST on account of Muhurat trading (Diwali - Laxmi Pujan). Muhurat trading is the auspicious stock market trading for an hour on Diwali (Deepawali).

Stock market will remain closed on Monday, 16 November 2020 on account of Diwali Balipratipada.

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 63 points at the opening bell.

Global markets:

Overseas, U.S. stock indexes closed sharply higher Friday, notching a pair of fresh records, as Wall Street wrapped up a week framed by optimism over the prospects of vaccines and treatments for COVID-19 and yet gloom over a spike in the viral outbreak in the U.S. and Europe.

The Dow Jones Industrial Average closed up 399.64 points, or 1.4%, to reach 29,479.81, and briefly traded higher than its February 12 closing record at 29,551.42. Meanwhile, the S&P 500 index gained 48.14 points to close at 3,585.15, for a gain of 1.4%, a fresh record. The Nasdaq Composite Index climbed 119.70 points, a gain of 1%, ending at 11,829.29.

Investors are keeping an eye on Joe Biden's transition to the White House after he has been projected the winner of the 2020 U.S. presidential election against incumbent Donald Trump.

In economic reports, the producer-price index advanced 0.3% last month, the government said Friday. Separately, a report on consumer sentiment from the University of Michigan revealed worries bubbling up about the coronavirus resurgence, U.S. falling to 77 in November from a previous reading of 81.8.

Domestic markets:

Back home, equity indices ended a volatile trading session with small gains on Friday. The FMCG shares declined while metal and pharma shares advanced. The barometer index, the S&P BSE Sensex, rose 85.81 points or 0.2% at 43,443. The Nifty 50 index gained 29.15 points or 0.23% to 12,719.95.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,935.92 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,462.42 crore in the Indian equity market on 13 November, provisional data showed.

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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: Sat, November 14 2020. 17:36 IST