Sensex, Nifty Likely To Start Day On A Muted Note

Domestic stock markets are likely to start Friday's session on a muted note, a day after benchmark indices halted a four-day winning run, amid a mixed trend across Asian markets. The Singapore Exchange's Nifty futures - an early indicator of the NSE Nifty 50 benchmark index - fluctuated in a narrow range between gains and losses ahead of the opening of Indian markets. At 8:02 am, the SGX Nifty futures traded 3.85 points lower at 11,895, having moved within a range of 11,926.20-11,874.20 earlier compared to their previous close of 11,898.85.

Equity markets elsewhere in Asia registered cautious gains on Friday after positive US economic data and signs of progress in stimulus talks in Washington lifted Wall Street.

While MSCI's index of world stocks was roughly flat, Japan's Nikkei 225 index was up 0.30 per cent, but Australia's S&P ASX 200 was down 0.10 per cent. 

US lawmakers were still trying to hammer out a roughly $2-trillion stimulus deal late on Thursday, with US House Speaker Nancy Pelosi saying that she and Treasury Secretary Steven Mnuchin had not spoken during the day.

Wall Street indices ended 0.19-0.54 per cent higher each after US economic data surprised to the upside, as jobless claims fell more than expected and existing home sales exceeded estimates to more than a 14-year high.

Democrat Joe Biden renewed his attacks on US President Donald Trump's handling of the coronavirus pandemic at Thursday's final debate before the November 3 election, while Mr Trump leveled unfounded corruption accusations at Biden and his family.

The US was also on the brink of a widespread coronavirus outbreak, with nearly two-thirds of states in a danger zone with six reporting record one-day increases in COVID-19 deaths on Wednesday.

On Thursday, the Sensex had closed 148.82 points - or 0.37 per cent - lower at 40,558.49, and the Nifty settled at 11,906.70, down 30.95 points - or 0.26 per cent - from its previous close.