6 Things to Know Before Market Opens on November 11, 2024

On Monday, November 11, 2024, the benchmark indices, Sensex and Nifty 50 are expected to open lower followed by weakness in Asian markets. However, at 07:55 AM, Gift Nifty was trading up by 0.03% at 24,125.

Previous Trading Session 

On November 8, 2024, the Sensex dropped 55.47 points, or 0.07%, to close at 79,486.32, while the Nifty 50 fell 51.15 points, or 0.21%, ending at 24,148.20.

FII and DIIs 

On November 8, 2024, DIIs bought securities worth ₹11,246.96 crore, while FIIs sold securities worth ₹12,740.98 crore.

Put Call Ratio (PCR)

Nifty’s PCR has shifted to 0.69  in the previous session. A PCR ratio below 0.7 or heading toward 0.5 denotes a bearish trend, whereas a ratio above 0.7 or approaching 1 typically suggests a positive sentiment.

The increasing PCR, which is higher than 0.7 or surpasses 1, means traders are selling more Put options than Call options, which generally indicates the firming up of a bullish sentiment in the market. If the ratio falls below 0.7 or moves towards 0.5, then it indicates selling Call Options is higher than selling Put options, reflecting a bearish mood in the market.

Oil Prices

Crude oil prices stabilised following their largest single-day decline in nearly two weeks due to a subdued outlook from China. Brent crude fell by 0.05% to $73.83 per barrel after a 2.3% drop on Friday, while US WTI slipped 0.16% to $70.27.

Asian Markets

Asian markets opened lower on Monday, influenced by weaker-than-expected October inflation data from China. Japan’s Nikkei 225 dropped 0.14%, with the Topix remaining steady. South Korea’s Kospi and Kosdaq fell by 0.57% and 0.58%, respectively.

US Markets

US stock markets closed higher on Friday, marking their strongest weekly percentage gain in a year following Donald Trump’s election victory. The Dow Jones Industrial Average increased by 259.65 points, or 0.59%, to reach 43,988.99. The S&P 500 rose 22.44 points, or 0.38%, to 5,995.54, while the Nasdaq Composite added 17.32 points, or 0.09%, closing at 19,286.78.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.