On Wall Street, the stocks cracked impulsively in the second half of trading session and the Asian peers too are feeling the pinch and this weakness will inevitably spill on the Indian shores as well. The SGX Nifty is indicating a scary fall on D-Street as it has cracked 136 points or 1.05 per cent and was trading at 12,857 levels.

In the West, the markets are facing ripples of bad news as US retail sales showed slowest growth in six months and the cases of coronavirus are on a surge. But, the news flow on the Indian shores is quite cheerful and the latest one is that Morgan Stanley is expecting Sensex to touch 50,000 mark by end of next year.

The Indian markets logged a fresh high record closing in the short one-hour Diwali Muhurat trading session on Saturday. Though the Diwali festive is behind us, but the bulls are likely to continue their fireworks On Tuesday as the global peers are trading buoyant after the news emerged that Moderna’s vaccine candidate has proven to be 94.5 per cent effective in preventing Covid-19 infection.

SGX Nifty is trading with losses of more than 100 points or 0.89 per cent on Friday. We can expect a gap down opening on the Indian bourses on Friday.

If we go by what SGX Nifty suggests, we are all set for an opening with minor losses on Nifty.

SGX Nifty is trading with minor gains of about 33 odd points or 0.28 per cent on Wednesday. The global markets, especially the European markets, closed higher with gains of more than 1 per cent each on Tuesday on the back of optimism over the vaccine development. 

After a stellar rally on Monday, the markets are expected to build on gains today as the global markets traded higher, owing to vaccine development as well as US election clarity.

On Monday, the bull’s buying spree is showing no signs of abating as the early trends in SGX Nifty suggest that Nifty may open around its all-time high as it is trading up by 1.30 per cent at 12,424.50 levels. Certainly with the festive season i.e. Diwali being around the corner, the bulls are beaming with joy & celebrating with fireworks.

Nifty has rallied nearly 600 points from the lows of October 30 and with this, it has reached its pre-COVID level while on a year-to-date basis, it is trading with a loss of less than half a per cent. While Sensex has turned positive on a year-to-date basis after the stupendous run seen over the last week.

The latest update on the US election is that the presidential candidate Joe Biden is leading and approaching the 270 mark. If Nifty manages to hold above the 12,045-12,060 mark, the bulls would attempt to reclaim its all-time high level in the near term.