6 Things to Know Before Market Opens on October 21, 2024

On Monday, Indian stock market indices, Sensex and Nifty 50, are expected to open on a cautious note following mixed global market cues.

Previous Trading Session 

On Friday, the Sensex climbed 218.14 points (0.27%) to close at 81,224.75, while the Nifty 50 advanced by 104.20 points (0.42%), ending at 24,854.05.

FII and DIIs 

On October 18, 2024, DIIs bought securities worth ₹13,850.16 crore, while FIIs sold securities worth ₹17,834.65 crore.

Put Call Ratio (PCR)

Nifty’s PCR has shifted to 0.76 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

Oil futures dropped on Friday, ending the week with a decline of over 7%, as China’s slowing economic growth and a mixed outlook for the Middle East weighed on investor sentiment. Brent crude fell by $1.39 (1.87%) to $73.06 per barrel, while U.S. West Texas Intermediate crude dropped $1.45 (2.05%) to settle at $69.22 per barrel.

Asian Markets

On Monday, Asian markets traded mixed following China’s loan prime rate cut announcement. Japan’s Nikkei 225 edged down slightly, and the Topix declined by 0.11%. South Korea’s Kospi rose by 0.22%, while the Kosdaq posted minor losses. Hong Kong’s Hang Seng index pointed to a weaker open.

US Markets

US markets ended higher on Friday, with the Dow Jones Industrial Average and the S&P 500 reaching record highs, driven by technology stocks gains. The Dow Jones rose 36.86 points (0.09%) to 43,275.91, the S&P 500 added 23.20 points (0.40%) to close at 5,864.67, and the Nasdaq Composite gained 115.94 points (0.63%) to finish at 18,489.55.

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.