6 Things to Know Before Market Opens on October 16, 2024

On Wednesday, Indian stock market indices, Sensex and Nifty 50, are expected to be impacted following global market weakness.

Previous Trading Session 

On Tuesday, the Sensex fell by 152.93 points (0.19%) to close at 81,820.12, while the Nifty 50 dropped 70.60 points (0.28%) to settle at 25,057.35.

FII and DIIs 

On October 15, 2024, DIIs bought securities worth ₹13,229.43 crore, while FIIs sold securities worth ₹17,846.60 crore.

Put Call Ratio (PCR)

Nifty’s PCR has shifted to 0.56 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.

Crude Price

After a 4% drop on Tuesday, crude oil prices traded higher. Brent crude rose 0.35% to $74.51 per barrel, and US WTI futures increased by 0.41% to $70.87 per barrel.

Asian Markets

On Wednesday, Asian markets traded lower following Wall Street’s overnight losses. Japan’s Nikkei 225 fell by 1.85%, while the Topix dropped 1.13%. South Korea’s Kospi lost 1.22%, and the Kosdaq declined 0.93%. Hong Kong’s Hang Seng futures indicated a weak opening.

US Markets

US markets ended Tuesday in the red, with the Nasdaq down 1% as chip stocks plunged. The Dow Jones Industrial Average fell by 324.80 points (0.75%) to 42,740.42, while the S&P 500 dropped 44.59 points (0.76%) to 5,815.26. The Nasdaq Composite was down 187.10 points (1.01%) to close at 18,315.59.

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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.