SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 106 points at the opening bell.
On the macro front, the growth rate of India's retail inflation, which is measured by the Consumer Price Index (CPI), climbed 7.61% in month of October. The CPI for the month of September was also revised to 7.27% from 7.34%.
Separately, the country's factory output, which is measured in terms of Index of Industrial Production (IIP), witnessed a growth of 0.2% in the month of September, according to two separate data released by the Ministry of Statistics & Programme Implementation (MoSPI) on Thursday. The IIP had contracted by 4.6% in September 2019.
Global markets:
Overseas, Asian stocks are trading lower on Friday as coronavirus cases continue to surge in the U.S., dimming optimism from positive vaccine news earlier in the week.
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In US, Wall Street ended sharply lower on Thursday as U.S. coronavirus infections surged and investors weighed the timeline for the mass rollout of an effective vaccine.
Investor focus on Friday was likely on the coronavirus situation in the U.S., as daily new cases of the virus continue to rise in the country, setting fresh records.
U.S. Federal Reserve Chairman Jerome Powell warned Thursday that the next few months could be challenging despite recent developments on the vaccine front. From our standpoint, it's just too soon to assess with any confidence the implications of the news for the path of the economy, especially in the near term, Powell said regarding the vaccine.
On Thursday, top Democrats in the U.S. Congress urged renewed negotiations over a multitrillion-dollar coronavirus aid proposal, but the top Republican immediately rejected their approach as too expensive, continuing a months-long impasse.
On the data front, the number of Americans filing new claims for unemployment benefits fell to a seven-month low last week. Initial claims for state unemployment benefits totalled a seasonally adjusted 709,000 for the week ended November 7 compared to 757,000 in the prior week, the Labor Department said on Thursday.
Domestic markets:
Back home, the benchmark indices snapped an eight-day rising streak on Thursday as the economic measures announced by Finance Minister Nirmala Sitharaman failed to cheer investors. The barometer index, the S&P BSE Sensex, dropped 236.48 points or 0.54% at 43,357.19. The Nifty 50 index declined 58.35 points or 0.46% at 12,690.80.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,514.12 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,239.43 crore in the Indian equity market on 12 November, provisional data showed.
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