6 Things to Know Before Market Opens on November 19, 2024

Indian stock markets, Sensex and  Nifty 50 are likely to be impacted on Tuesday, supported by gains in global markets.

Asian stocks moved up in early trading, while the US markets saw a mixed close overnight, with the Nasdaq and S&P 500 ending in positive territory.

Gift Nifty traded around 23,545, showing a premium of about 30 points compared to the previous close of Nifty futures.

Previous Trading Session 

On November 18, Indian markets fell for the 7th straight session, marking their longest losing streak since February 2023. The Sensex dropped by 241.30 points (0.31%) to end at 77,339.01, while the Nifty 50 slipped 78.90 points (0.34%) to close at 23,453.80.

FII and DIIs 

On November 18, 2024, DIIs bought securities worth ₹11,521.42 crore, while FIIs sold securities worth ₹15,659.69 crore.

Put Call Ratio (PCR)

Nifty’s PCR has shifted to 0.71  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 and Gold Prices

Crude oil prices remained steady after posting their largest gain in over 5 weeks, helped by a weaker dollar. West Texas Intermediate (WTI) hovered near $69 per barrel, rising 3.2% on Monday. Similarly, Brent crude climbed 3.18% to $73.30 per barrel.

Gold prices bounced back after 6 straight days of losses as the US dollar eased. Spot gold increased by 1.93% to $2,610.73 per ounce, while US gold futures rose 1.7% to settle at $2,614.60.

Asian Markets

Asian stock markets moved higher on Tuesday, taking cues from overnight gains on Wall Street.

Japan’s Nikkei 225 climbed 0.68%, and the Topix rose 0.65%. South Korea’s Kospi and Kosdaq remained mostly unchanged. Futures for Hong Kong’s Hang Seng index pointed to a positive opening.

US Markets

US markets had a mixed close on Monday as the Treasury selloff slowed. The Nasdaq and S&P 500 recovered some ground.

• The Dow Jones Industrial Average slipped 55.39 points (0.13%) to 43,389.60.
• The S&P 500 gained 23.00 points (0.39%) to 5,893.62.
• The Nasdaq Composite rose 111.69 points (0.60%) to 18,791.81.

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.