6 Things to Know Before Market Opens on October 18, 2024

On Friday, Indian stock market indices, Sensex and Nifty 50, are expected to open lower following mixed global market cues.

Previous Trading Session 

On Thursday, the Sensex dropped by 494.75 points, or 0.61%, to close at 81,006.61, while the Nifty 50 declined by 221.45 points, or 0.89%, closing at 24,749.85.

FII and DIIs 

On October 17, 2024, DIIs bought securities worth ₹16,817.01 crore, while FIIs sold securities worth ₹17,142.50 crore.

Put Call Ratio (PCR)

Nifty’s PCR has shifted to 0.51 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

Crude prices edged up on Thursday. Brent crude futures rose by 23 cents, or 0.31%, to settle at $74.45 per barrel, while US West Texas Intermediate (WTI) crude futures slipped by 28 cents, or 0.4%, closing at $70.67 per barrel.

Asian Markets

In Asian markets, trading was mixed on Friday following gains on Wall Street and ahead of key economic data from China. Japan’s Nikkei 225 increased by 0.5%, with the Topix up 0.34%. South Korea’s Kospi remained flat, while the Kosdaq declined 0.22%. Meanwhile, Hong Kong’s Hang Seng index futures signalled a lower opening.

US Markets

In the US, the stock market mostly closed higher on Thursday, driven by strong retail sales data. The Dow Jones Industrial Average climbed 161.35 points, or 0.37%, to a record 43,239.05, marking its fourth record close in five sessions. The S&P 500 dipped slightly by 1.00 point, or 0.02%, to 5,841.47, while the Nasdaq Composite gained 6.53 points, or 0.04%, ending at 18,373.61.

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.