6 Things to Know Before Market Opens on November 27, 2024

On Wednesday, November 27, 2024, the benchmark indices Sensex and Nifty 50 are expected to open on a positive note with GIFT Nifty trading over 185.5 points higher than Tuesday’s close on Nifty Futures, despite mixed global cues.

Previous Trading Session 

On November 26, 2024, the Sensex ended at 80,004.06 points, dropping by 105.79 points or 0.13%. Meanwhile, the Nifty 50 closed at 24,194.50 points, down 27.40 points or 0.11%.

FII and DIIs 

On November 26, 2024, DIIs sold securities worth ₹10,317.01 crore, while FIIs bought securities worth ₹10,971.18 crore.

Put Call Ratio (PCR)

Nifty’s PCR has shifted to 0.94 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

Oil prices remained steady in early Wednesday trading. Brent crude futures slipped marginally by 2 cents to $72.79 per barrel, while U.S. West Texas Intermediate crude futures declined 4 cents, or 0.1%, to $68.73 per barrel.

Asian Markets

Asian markets largely traded in the red on Wednesday. Hong Kong’s Hang Seng index fell by 0.15%, mainland China’s CSI 300 dipped 0.2%, Japan’s Nikkei 225 dropped 0.9%, and the Topix index slid 0.95%. In South Korea, the Kospi index edged down 0.1%, while the Kosdaq dropped 0.2%.

US Markets

U.S. markets continued to hit record highs on Tuesday. The S&P 500 rose 0.6%, surpassing its previous all-time high. The Dow Jones Industrial Average gained 123 points, or 0.3%, marking another record close. Meanwhile, the Nasdaq composite climbed 0.6%.

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.