6 Things to Know Before Market Opens on October 28, 2024

On Monday, October 28, 2024, the benchmark indices, Sensex and Nifty 50 are likely to open flatly following largely mixed cues from global markets. At 08:03 AM, Gift Nifty was trading up by 0.44% at 24,245.

Previous Trading Session 

On October 25,  2024, the Sensex dropped 662.87 points, or 0.83%, to close at 79,402.29, while the Nifty 50 fell by 218.60 points, or 0.9%, lower at 24,180.80.

FII and DIIs 

On October 25, 2024, DIIs bought securities worth ₹15,203.44 crore, while FIIs sold securities worth ₹17,246.59 crore.

Put Call Ratio (PCR)

Nifty’s PCR has shifted to 0.75  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

Crude oil prices plunged following Israel’s weekend strike, which avoided targeting oil or nuclear sites. Brent crude dropped 4.48% to $72.64 per barrel, while US WTI crude futures fell 4.63% to $68.46.

Asian Markets

Asian markets traded positively on Monday, led by Japanese markets as the yen weakened after the country’s election results. The Nikkei gained 1.79%, and the Topix rose 1.38%. South Korea’s Kospi climbed 0.51%, and the Kosdaq advanced 0.94%, though Hong Kong’s Hang Seng index opened lower.

US Markets

The US stock market closed mixed on Friday, with megacap stocks supporting the Nasdaq. The Dow Jones Industrial Average declined by 259.96 points, or 0.61%, to 42,114.40, and the S&P 500 slipped 1.74 points, or 0.03%, to 5,808.12. The Nasdaq Composite, however, rose 103.12 points, or 0.56%, to finish at 18,518.61.

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.