Sensex, Nifty may open on a strong note

Trading of Nifty futures on the Singapore stock exchange indicates that the Nifty could jump 96 points at the opening bell. However, tepid global cues amid the spread of Omicron variant of coronavirus may keep the upside limited. Overseas, Asian stocks largely fell in Monday trade with Hong Kong’s Hang Seng index slipping about 0.3 per cent. Japan’s Nikkei 225 declined about 1 per cent earlier but was last trading around 0.2 per cent lower. The Topix index also saw a partial recovery, last dipping 0.59 per cent lower after falling more than 1 per cent earlier. South Korea’s Kospi shed 0.39 per cent.

Shares in Australia also slipped as the S&P/ASX 200 fell 0.17 per cent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.1 per cent lower.

On the other hand, U.S. equity futures, crude oil and Treasury yields climbed as traders tried to calibrate the possible impact of the omicron coronavirus strain on global economic reopening.

Domestic markets

Back home, the domestic equities massive bear hammering on Friday, 26 November 2021. Sensex was nosedived 1,687 points or 2.87% at 57,107, and the Nifty settled at 17,026 plunging 509 points or 2.91%. Investors lost Rs 10.89 lakh crore in the last week sell-off of which Rs 7.36 lakh was wiped off in Friday’s session.