Markets open flat
as US inflation data,
Trump victory stir
global sentiment
Markets open flat as US inflation data, Trump victory stir global sentiment
Updated - November 14, 2024 at 10:11 AM.
Foreign Institutional Investors (FIIs) continue to exert pressure on Indian
markets, with November witnessing an exodus of over ₹27,600 crore
By Anupama Ghosh
Comments
Share
Copy link
Email• Коммуникации » Интернет-коммуникации » Электронная почта
Facebook• Объект организация » Организации по алфавиту » Организации на Me » Meta (компания) » Facebook
• Объект организация » Организации по алфавиту » Организации на Fa » Facebook
Twitter• Объект организация » Организации по алфавиту » Организации на Tw » Twitter, Inc.
Telegram
LinkedIn
WhatsApp
Reddit
READ LATER
Remove See All
The Sensex opened slightly lower at 77,636.94 from its previous close of
77,690.95 but has since climbed, trading at 77,764.53 as of 9.50 AM, gaining
73.58 points or 0.09 per cent. Similarly, the Nifty opened at 23,542.15
against its previous close of 23,559.05 and is currently trading at 23,568.75,
up by 9.70 points or 0.04 per cent.
Eicher Motors led the gainers on NSE , surging 7.08 per cent, followed by HCL
Tech (1.35 per cent), Hindalco (1.02 per cent), HDFC Bank (0.76 per cent), and
Axis Bank (0.66 per cent). Among the top losers were Ultratech Cement (-1.77
per cent), Shriram Finance (-1.38 per cent), M&M (-1.31 per cent), HUL
(-1.28 per cent), and Britannia (-1.01 per cent).
“The market structure is weak but oversold; hence we can expect a quick
intraday pullback rally from given support levels,” said Shrikant Chouhan,
Head Equity Research at Kotak Securities. He added that “the 200-day SMA or
23500/77500 would act as a sacrosanct support zone.”
Foreign Institutional Investors (FIIs) continue to exert pressure on Indian
markets, with November witnessing an exodus of over ₹27,600 crore. “FIIs have
pulled out a record ₹1.2 lakh crore from Dalal Street since the Nifty’s peak
of 26,277 on September 27,” noted Prashanth Tapse, Senior VP (Research) at
Mehta Equities Ltd.
The U.S. markets ended mixed after October’s Consumer Price Index (CPI) data
showed inflation at 2.6 per cent annually, meeting expectations. Core CPI,
excluding food and energy prices, came in at 3.3 per cent. This has increased
market expectations for a Federal Reserve rate cut, with CME Group’s FedWatch
showing an 82 per cent probability of a quarter-point reduction.
In the commodities market, both gold and crude oil faced pressure. “Gold and
silver continue to decline amidst the relentless rally of the U.S. dollar and
cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта,” said Rahul Kalantri, VP Commodities at Mehta Equities Ltd.
Crude oil traded at $68 per barrel, with the International Energy Agency
projecting increased global production.
The U.S. dollar reached a one-year high of 106.55 against major peers, while
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin set a new record at $93,480. The U.S. Treasury Department reported a
federal budget deficit of $257 billion in October, significantly higher than
analysts’ estimates of $72.7 billion.
“The current market structure is weak but oversold,” noted Vikas Jain, Head of
Research at Reliance• Объект бренды » Бренды на r » Reliance Securities. He explained that “NIFTY-50 has closed near
the 200-day average, and we expect some bounce from the lower range.”
The market awaits several crucial events, including the U.S. Producer Price
Index data and Federal Reserve Chairman’s speech. Domestically, investors are
watching quarterly results from major companies including HAL, Grasim
Industries, Hero MotoCorp, Bharat• Индия Forge, Glenmark Pharma, and Bharat• Индия Dynamics.
The realty sector faced the strongest headwinds in the previous session,
declining over 2.25 per cent. All major sectoral indices have experienced
profit booking, with the market entering correction territory after falling 10
per cent from recent highs.
Comments
SHARE
Copy link
Email• Коммуникации » Интернет-коммуникации » Электронная почта
Facebook• Объект организация » Организации по алфавиту » Организации на Me » Meta (компания) » Facebook
• Объект организация » Организации по алфавиту » Организации на Fa » Facebook
Twitter• Объект организация » Организации по алфавиту » Организации на Tw » Twitter, Inc.
Telegram
LinkedIn
WhatsApp
Reddit
Published on November 14, 2024