Market may drift lower in early trade
02-Dec-22   08:25 Hrs IST

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 56 points at the opening bell.

The gross GST revenue collected in the month of November 2022 is Rs 1,45,867 crore. The revenues for the month of November 2022 is 11% higher than the GST revenues in the same month last year, which itself was Rs. 1.31,526 crore.

Global markets:

Overseas, Asian stocks are trading lower as investors looked for clarity after China signaled slight easing of its stringent Covid restrictions.

South Korea's consumer prices rose 5% in November from a year earlier, government data showed on Friday. The November inflation rate compared with 5.7% in October. The country's inflation rate has been falling since hitting a 24-year high of 6.3% in July as global energy prices eased and the economy slowed.

US stocks ended mixed on Thursday as investors awaited jobs data coming Friday that could determine the pace of the Federal Reserve's future rate tightening.

Domestic markets:

Back home, the Indian equity benchmarks advanced on Thursday, extending the winning run to eighth straight session. The Sensex and the Nifty hit record levels in intraday as well as on a closing basis. The barometer index, the S&P BSE Sensex, gained 184.54 points or 0.29% to 63,284.19. The Nifty 50 index rose 54.15 points or 0.29% to 18,812.50.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,565.93 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,664.98 crore in the Indian equity market on 1 December, provisional data showed.

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