SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 196 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Friday, as a new virus variant added to swirling concerns about future growth and higher US interest rates.

The World Health Organization officials said Thursday they are monitoring a new variant with “a large number of mutations.” A special meeting is scheduled for Friday to discuss its implications for vaccines and treatments. The variant, called B.1.1.529, has been detected in South Africa in small numbers, according to the WHO.

Markets in the U.S. were closed on Thursday for the Thanksgiving holiday.

Domestic markets:

The benchmark indices ended with strong gains on Thursday, boosted by strength in index heavyweight Reliance Industries. Trading was volatile due to expiry of monthly derivative contracts on the NSE. The barometer index, the S&P BSE Sensex, jumped 454.10 points or 0.78% at 58,795.09. The Nifty 50 index gained 121.20 points or 0.70% at 17,536.25.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,300.65 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,367.80 crore in the Indian equity market on 25 November, provisional data showed.

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