Stock Market Today: The market is anticipated to open down due to patterns in the SGX Nifty, which suggest to an opening loss of 55 points for the larger Indian index.
The Nifty50 dropped 46 points to 18,157 and formed a bearish candle on the daily charts, grabbing support at the 18,100 level as the BSE Sensex dropped 152 points to 61,033.
The pivot charts identify 18,122 as the critical support level for the Nifty, followed by 18,080 and 18,011. The important resistance levels to watch out for on an upward movement of the index are 18,259, followed by 18,301 and 18,369.
We have compiled a collection of significant headlines from various news sources that may have an influence on both Indian and global markets:
US market
In addition to investors’ attention on upcoming inflation data that will give hints about the severity of future interest rate hikes, Republican gains in the midterm elections appeared to be less significant than some had anticipated. This led to a sharp decline in Wall Street’s closing price on Wednesday.
At the session’s end, the S&P 500 dropped 2.08 percent to 3,748.58 points. The Dow Jones Industrial Average fell 1.95 percent to 32,513.94 points and the Nasdaq fell 2.48 percent to 10,353.18 points.
Asian markets
As investors await US inflation data, a crucial indicator highly followed by the Federal Reserve, and as US midterm results continue to roll in, shares in the Asia-Pacific region declined on Thursday.
Early trading in Japan saw a 0.9 percent loss on the Nikkei 225 and a 0.65 percent loss on the Topix. The Kospi index in South Korea decreased by 0.53 percent. The largest Asia-Pacific share index outside of Japan, according to MSCI, fell 0.2 percent. The S&P/ASX 200 index fell 0.43 percent in Australia.
Axis Nifty
The larger Indian index is expected to open down 55 points, according to trends in the Singapore Exchange Nifty. On the Singaporean exchange, the Nifty futures were trading at roughly 18,138 levels.
Oil prices fall 3% on US inventory growth and concerns over China’s COVID.
Wednesday saw a nearly $3 drop in oil prices per barrel as industry data revealed that US crude stockpiles increased more than anticipated. Additionally, there were worries that the number of Covid-19 cases in major importer China would increase.
While US West Texas Intermediate (WTI) crude futures concluded at $85.83 per barrel, down $3.08, or 3.5 percent, Brent crude futures ended the day at $92.65 per barrel, down $2.71, or 2.8 percent.
Tata Motors’ second quarter’s combined net loss shrinks to Rs. 944.6 billion
Tata Motors Limited announced a combined net loss of Rs. 944.61 billion for the quarter that ended in September (Q2FY23) on November 9. In the same period last year, the domestic multinational vehicle manufacturing company reported a net loss of Rs. 4,441.57 crore (Q2FY22).
Consolidated income from operations for the Mumbai-based company increased 29.7% year over year, from Rs 61,378.82 crore to Rs 79,611.3 crore during the quarter under review.
Citi will conduct a block sale of Nykaa shares worth Rs 250 crore
According to November 9, Citigroup has started a bid to sell shares in cosmetics-to-fashion retailer Nykaa for Rs 250 crore through a block sale. According to the news station, the block deal involves “individual staff sellers,” and it provides a discount of up to 2% off the going rate. The news of the report comes as Nykaa’s parent company, FSN E-Commerce Ventures Ltd., sees its stock price plummet on the stock market.
Data FII and DII
According to preliminary data made public on the NSE, foreign institutional investors (FIIs) net purchased shares worth Rs 386.83 crore on November 9 while domestic institutional investors (DIIs) net sold shares worth Rs 1,060.12 crore.
Prior to US inflation statistics, gold dealers are in a waiting and watching posture.
As cautious investors stayed away and awaited a crucial US inflation data to determine the extent of the Federal Reserve’s upcoming interest rate hikes, gold prices remained stable on Thursday.
As of 00:32 GMT, spot gold was unchanged at $1,705.77 per ounce. Futures for US gold decreased 0.3% to $1,709.20.
Ban on F&O stocks on the NSE
Punjab National Bank has been added to the NSE’s list of financial instruments that are prohibited for trading on November 10. Securities from firms where derivative contracts have exceeded the market-wide position limit by 95% are thus prohibited under the F&O segment.
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