NIFTY50, SENSEX today: Wall Street cues, FII activity, key things to know before markets open on November 12

The Indian equity markets are set to open lower on Wednesday, November 12, as indicated by GIFT NIFTY futures. NIFTY futures at GIFT City in Ahmedabad fell 25 points to 25,973 despite stable cues from Asian markets.

The Indian equity benchmarks staged a strong rebound in afternoon trading on Tuesday, November 11, to close higher for the second straight session powered by gains in index heavyweights like HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, Mahindra & Mahindra and Larsen & Toubro.

Asian markets

Most of the Asian markets were trading higher on Wednesday with Japan's Nikkei rising 0.34%, Hong Kong's Hang Seng advancing 1.07%, South Korea's KOSPI up 1% and China's Shanghai Composite gaining 0.4% as US Congress looked set to end the federal shutdown and traders looked for direction in the absence of clues from government data services.

Meanwhile, market participants are increasing bets on further easing from the Federal Reserve. Fed funds futures are pricing an implied 68% probability of a 25-basis-point cut at the US central bank's next meeting on December 10, compared to a 62% chance a day earlier, according to the CME Group's FedWatch tool, news agency Reuters reported.

Wall Street update

Most of US stocks ended higher on Tuesday. The Dow Jones Industrial Average surged 559 points, or 1.2%, to a new record high, eclipsing its previous peak set two weeks ago. In contrast, the Nasdaq Composite slipped 0.3% as Nvidia extended its decline, with investors growing cautious that AI-driven stocks may be overvalued and S&P500 advanced 0.18%.

FII/DII activity

Foreign institutional investors sold shares worth ₹803 crore on Tuesday while domestic institutional investors bought shares worth ₹2,188 crore, data from the National Stock Exchange showed.

The FIIs have so far this month sold shares worth ₹9,864 crore and for the calendar year they have been net sellers to the tune of ₹1,49,774 crore, according to the data from National Securities Depository Limited (NSDL).

Stocks to watch

The company had earned a consolidated net profit of ₹139 crore in the year-ago period. Sequentially, in the June quarter, its profit stood at ₹86 crore.

The total income also declined to ₹9,799 crore in the July-September period this fiscal year, against ₹13,375 crore a year ago, Max Financial Services said in a regulatory filing.

The Bengaluru-based firm had reported a net loss of ₹16 crore in the July-September quarter of last fiscal.

Revenue from operations rose to ₹4,296 crore in the second quarter as against ₹3,590 crore in the year-ago period, Biocon Ltd said in a statement.

The company said its board has approved raising up to ₹550 crore via issuance of commercial papers in one or more tranches on private placement basis.

The healthcare major reported a net profit of ₹176 crore for the July-September period in the previous fiscal year.

Revenue from operations rose to ₹2,331 crore for the quarter as compared with ₹1,988 crore in the year-ago period, Fortis Healthcare said in a regulatory filing.

About its nuclear power projects, Tata Power said it is waiting for the legal amendments and will progress accordingly.

RITES: RITES posted a 32.24% increase in consolidated profit to ₹109 crore in the September quarter, driven by uptick in consultancy and export segments, the leading transport infrastructure consultancy and engineering firm said.

The company had posted a consolidated net profit of ₹82.50 crore in the year-ago period, it said in a regulatory filing.

The company said it has secured an all-time high order book of ₹9,090 crore and over 150 new orders worth more than ₹850 crore during the quarter under review.

It had clocked a net profit of ₹286.90 crore in the year-ago period, the company said in an exchange filing.

The company's total income rose to ₹5,333.36 crore from ₹5,136.07 crore during July-September FY25.

Its net profit stood at ₹10.34 crore in the year-ago period.

Total income fell by 50% to ₹161.75 crore in the second quarter of this fiscal against ₹320.96 crore in the corresponding period of the preceding year, according to a regulatory filing.

Trade setup

On the technical front, the index closed above the 21-EMA level of 25,578 on Tuesday, indicating a renewed bullish stance for the index. However, 25,700 continues to remain a key resistance level for the current week.

On the options data front, the initial buildup for the next weekly expiry of 18 November indicates a broad range of trades from 25,500 to 26,000. The 25,500 puts hold the highest open interest, indicating strong support, while the 26,000 calls held the highest open interest on the upside, indicating a strong resistance.