Market Likely To Open At Flat

The market rebounded after a fall in previous two consecutive sessions, riding on hopes that parliament would clear goods and services tax (GST) Bill in the ongoing Winter Session. However, in November series, the Nifty lost 2.8% and the Sensex fell 3.3 %. The Sensex ended 182.89 points up at 25,958.63, while Nifty settled the day above its key 7,850-mark, up 52.20 points at 7,883.80. The BSE Mid-Cap index rose 0.26%. The BSE Small-Cap index rose 0.45%. Both these indices underperformed the Sensex.

U.S. markets were closed for that country's Thanksgiving holiday and will reopen for an abbreviated session on Friday.

European stocks strengthened following a mixed Asia performance, though the closure of US markets for Thanksgiving left volumes thin across the global session. The European Central Bank meets next Thursday and most in the market expect it to expand its asset purchase program and lower its deposit rate, the rate at which banks park excess funds with it. The FTSE 100 index of leading British shares closed up 0.9% at 6,393.13 while Germany's DAX rose 1.4% to 11,320.77. The CAC-40 in France ended 1.1% higher at 4,946.02.

Brent crude down 1.6% to USD 45.43 a barrel as lingering oversupply fears, ahead of December’s Opec meeting, and a strong dollar of late, put pressure on oil prices.

Asian markets traded mixed on Friday as investors took their cues from European equities, which closed higher Thursday on anticipation of further stimulus from the European Central Bank (ECB). The Nikkei 225 lost most of its early morning gains and traded 60 points, or 0.30%, lower at 19,884. Australia’s S&P/ASX 200 index and South Korea’s Kospi index lost some momentum and now both traded at flat. The Chinese markets failed to follow the rally in Asian equities and opened lower. The main Shanghai Composite was down 23 points, or 0.63%, at 3,614.

A SGX Nifty 50 Index future for December delivery was down 5 points at 7,929. Indian market is likely to open at flat.