SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 59 points at the opening bell.
Global markets:
Overseas, most Asian stocks are trading lower on Thursday as investors kept an eye on Brexit trade talks as well as ongoing negotiations in the U.S. for a coronavirus relief package.
In US, stocks fell on Wednesday, retreating from the record highs set earlier in the day, as tech shares struggled and traders weighed the prospects of new fiscal stimulus. All three averages also touched fresh intraday records.
A three-hour meeting between U.K. and European Union leaders on Wednesday evening failed to break an impasse in Brexit trade talks. British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen agreed that a firm decision should be made by Sunday about the future of the talks, as per reports.
The U.K. left the EU in January but agreed to keep the same standards and regulations until the end of the year. That was intended for both sides to have time to develop new trading arrangements. The transition period is due to end in three weeks and there are growing concerns that a new agreement may not be ready by then.
Domestic markets:
Back home, domestic equity indices closed at record high levels with strong gains on Wednesday. Positive global shares and hopes for vaccine approvals in India boosted investor sentiment. The S&P BSE Sensex, rallied 494.99 points or 1.09% at 46,103.50. The Nifty 50 index added 136.15 points or 1.02% at 13,529.10. Both the indices attained record closing high levels.
Foreign portfolio investors (FPIs) bought shares worth Rs 3,564.23 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,493.10 crore in the Indian equity market on 9 December, provisional data showed.
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