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Market may open lower

Published on Nov 20, 2023 08:36

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 15 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher on Monday while investors watched for changes to China�s benchmark lending rates. The People�s Bank of China�s one-year loan prime rate is currently at 3.45%. The five-year benchmark loan rate stands at 4.2%.

US stocks ended higher on Friday and clinched a third straight winning week amid a red-hot November rally. Those gains were sparked by tame U.S. inflation data that gave hope to investors that the Federal Reserve�s tough stance on rate policy may be in the rearview mirror.

Domestic markets:

Back home, domestic equity benchmarks corrected on Friday, dragged by banks and financial stocks. The barometer index, the S&P BSE Sensex slipped 187.75 points or 0.28% to 65,794.73. The Nifty 50 index lost 33.40 points or 0.17% to 19,731.80.

Foreign portfolio investors (FPIs) sold shares worth Rs 477.76 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 565.48 crore in the Indian equity market on 17 November, provisional data showed.

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