Market may open on flat note

November 30,2022

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 5 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Wednesday. Chinese health officials on Tuesday announced measures to boost vaccination among the elderly, as per reports.

U.S. stocks edged lower Tuesday with investors continuing to monitor China's COVID policy and look ahead for Federal Reserve Chair Jerome Powell's scheduled speech.

Federal Reserve Chair Jerome Powell will speak at the Brookings Institution about the outlook for the U.S. economy and the labor market on Wednesday.

On the macro front, the Conference Board's Consumer Confidence Index, the latest indicator of the strength of the U.S. economy, fell to 100.2 in November from a revised 102.2 reading in October.

Domestic markets:

Back home, the equity benchmarks ended with decent gains on Tuesday, rising for the sixth trading session. The barometer index, the S&P BSE Sensex, added 177.04 points or 0.28% to 62,681.84. The Nifty 50 index gained 55.30 points or 0.30% to 18,618.05.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,241.57 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 744.42 crore in the Indian equity market on 29 November, provisional data showed.

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