The Indian equity market is likely to open on a positive note with the SGX Nifty trading at 7856.50, up 32.50 points at 7:35.
Globally, US markets closed narrowly mixed in low volume trade. US personal spending rose 0.1 percent in October while personal income rose 0.4 percent. Durable goods soundly topped expectations with a headline rise of 3 percent. Weekly jobless claims fell more than expected to 260,000.
The market will be shut today on the occasion of Thanksgiving.
European markets ended higher after encouraging earnings helped lift sentiment. Asian markets meanwhile are trading higher in morning trade.In other asset classes, the dollar rose after strong economic data further backed the case for the Fed to raise interest rates, and after officials said the European Central Bank (ECB) was discussing additional options for stimulating the economy.
Crude prices eke out marginal gains despite geopolitical tensions fading and precious metal gold is trading around USD 1070 per ounce following a strong dollar.
Back home, the intolerance issue and the GST Bill will hold centrestage as the Winter Session of Parliament begins today with both the government and the Opposition refusing to give away an inch.
Former Finance Minister and senior Congress leader P Chidambaram says his party is not willing to negotiate on the inclusion of the tax rate in the GST Bill.
In corporate action , Dr Reddy's continues to remain under the weather with the US pharma watchdog releasing the warning letters sent to 3 facilities of the pharma major. The USFDA has said it found significant deviations from the current good manufacturing practices (GMPs).
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