Markets may open on a soft note
Wall Street stocks ended slightly higher on Monday, rising early after the passage of a US infrastructure spending bill.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 16 points at the opening bell. Overseas, Asian stocks are trading higher on Tuesday following overnight gains on Wall Street that took the major indexes to record closing highs.
Wall Street stocks ended slightly higher on Monday, rising early after the passage of a US infrastructure spending bill but paring gains late as sliding Tesla shares weighed the indexes down.
The U.S. House of Representatives late Friday passed a more than $1 trillion infrastructure bill, sending the legislation to President Joe Biden for his signature. First passed by the Senate in August, the package would provide new funding for transportation, utilities and broadband, among other infrastructure projects.
Domestic markets
Back home, the benchmark indices reversed early losses and ended with strong gains on Monday. The S&P BSE Sensex, surged 477.99 points or 0.80% at 60,545.61. The Nifty 50 index rose 151.75 points or 0.85% at 18,068.55.
Foreign portfolio investors (FPIs) sold shares worth Rs 860.65 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,911.77 crore in the Indian equity market on 8 November, provisional data showed.