6 Things to Know Before Market Opens on October 24, 2024

On Thursday, October 24, 2024, the benchmark indices, Sensex and Nifty 50 indicated a flat start as Gift Nifty traded almost 0.03% up to 24,496 at 08:03 AM.

Previous Trading Session 

On October 23,  2024, the benchmark indices witnessed a choppy session and settled in the negative territory. The BSE Sensex dropped 138.74 points or 0.17% to settle at 80,081.98, while the Nifty 50 declined 36.60 points or 0.15% to end at 24,435.50.

FII and DIIs 

On October 23, 2024, DIIs bought securities worth ₹6,039.90 crore, while FIIs sold securities worth ₹5,684.63 crore.

Put Call Ratio (PCR)

Nifty’s PCR has shifted to 0.61  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 and Gold Prices

In energy markets, Oil prices recorded a drop after data showed US crude inventories rose by more than expected even as refining activity rebounded. Brent crude futures ended at $74.96 per barrel, down 1.42%. US West Texas Intermediate (WTI) crude futures ended down 1.35% at $70.77.  US gold futures fell 0.1% to $2,741.50 an ounce. It reached a record high of $2,758.37 earlier in the session.

Asian Markets

On Thursday, the Asia-Pacific regions were mixed after the overnight decline in US stocks on Wall Street. South Korea’s Kospi was down 0.37% after the country’s Q3 GDP growth came in at 0.1% QoQ. Japan’s Nikkei 225 was up 0.48% and Australia’s S&P/ASX 200 was up 0.14%. In mainland China, the Shanghai Composite was down 0.54%.

US Markets

On October 23, 2024, the Dow Jones Industrial Average fell 0.96% to 42,514.95, the S&P 500 fell 0.92% to 5,797.42 and the Nasdaq Composite fell 1.60% to 18,276.65.

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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.