SGX Nifty Indicates Weak Opening For Markets; Reliance Industries In Focus
The domestic equity benchmarks are set to open lower on Friday as indicated by the Singapore Nifty futures traded on the Singapore Exchange. Singapore Nifty or SGX Nifty futures contract fell 0.38 per cent or 56 points to 14,588. In yesterday's session, Sensex crossed over 50,000-mark for the first time however it closed below that level owing to profit booking at record highs.
Meanwhile, Asian shares eased from record highs on Friday as investors took some money off the table after a recent rally that was driven by hopes a massive US economic stimulus plan by incoming President Joe Biden will help temper the COVID-19 impact.
MSCI's broadest gauge of Asia Pacific stocks outside of Japan was off 0.2 per cent at 722.49 points, a whisker away from its all-time high of 727.31 touched on Thursday.
The index has jumped 3.7 per cent so far this week, reflecting relief over an orderly transition of power in the United States and strong expectations that U.S. stimulus will provide continued support for global assets.
Back home, foreign institutional investors remained net buyers of Indian equities. They bought shares worth Rs 1,615 crore on Thursday while domestic institutional investors sold shares worth Rs 1,0039 crore.
Reliance Industries will be in focus today ahead of its December quarter earnings due later in the day.