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Stocks may open in green

Capital Market 

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 24 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Friday as investors remained cautious over the short-term economic impact of the coronavirus as cases around the world continue to rise.

Japan's manufacturing decline sped up in November as output and orders sagged, a business survey showed on Friday. The au Jibun Bank Flash Japan Manufacturing Purchasing Managers' Index (PMI) fell to a seasonally adjusted 48.3 from a final 48.7 in October.

In US, stocks rose on Thursday following a report that US lawmakers may restart negotiations on economic stimulus.

The number of Americans seeking unemployment aid rose last week to 742,000. The Labour Department's report on Thursday showed that applications for benefits rose from 711,000 in the previous week.

Preliminary data released earlier on Thursday University of Oxford and AstraZeneca's vaccine candidate triggered a similar immune response among all adults. Oxford and AstraZeneca's data came a day after Pfizer and BioNTech said their Covid-19 vaccine candidate was 95% effective.

Domestic markets:

Back home, domestic equity barometers ended near the day's low on Thursday, dragged by banks and financial stocks. Concerns about rising coronavirus infections across the globe eclipsed the enthusiasm surrounding COVID-19 vaccine development. The barometer index, the S&P BSE Sensex, tumbled 580.09 points or 1.31% to 43,599.96. The Nifty 50 index slumped 166.55 points or 1.29% at 12,771.70.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,180.61 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,854.94 crore in the Indian equity market on 19 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: Fri, November 20 2020. 08:18 IST
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