NIFTY50, SENSEX today: Wall Street cues, FII activity, key things to know before markets open on November 18

The Indian equity markets are set to open lower on Tuesday, November 18, as indicated by GIFT NIFTY futures. NIFTY futures at GIFT City in Ahmedabad dropped 69 points to 25,991 amid weak cues from Asian markets.

The Indian equity benchmarks surged for a sixth straight session on Monday, November 17, as market sentiment turned positive after Bharatiya Janata Party (BJP) led National Democratic Alliance (NDA) secured power in Bihar with a very strong mandate indicating political stability in the country's second most populous state.

The SENSEX rose as much as 425 points and NIFTY50 index touched an intraday high of 25,996.90 led by gains in index heavyweights like HDFC Bank, Eternal, ICICI Bank, Kotak Mahindra Bank, Bharti Airtel and Mahindra & Mahindra.

Asian markets

Asian markets were trading sharply lower on Tuesday following a slump on Wall Street overnight. Japan's Nikkei dropped 2.2%, China's Shanghai Composite fell 0.57%, South Korea's KOSPI declined 2.12% and Hong Kong's Hang Seng dropped 1.27%.

Wall Street update

The US stock market sank Monday as Nvidia and other superstars created by the frenzy around artificial-intelligence technology dimmed some more.

The S&P 500 fell 0.9% and pulled further from its all-time high set late last month. The Dow Jones Industrial Average dropped 557 points, or 1.2%, and the Nasdaq composite sank 0.8%.

Nvidia was the heaviest weight on the market, as it’s often been in its last couple of tumultuous weeks. The chip company fell 1.8%, while losses for other AI winners included a 6.4% slide for Super Micro Computer.

FII/DII activity

Foreign institutional investors bought shares worth ₹442 crore on Monday while domestic institutional investors bought shares worth ₹1,466 crore, data from the National Stock Exchange showed.

The FIIs have so far this month sold shares worth ₹10,753 crore and for the calendar year they have been net sellers to the tune of ₹1,50,663 crore, according to the data from National Securities Depository Limited (NSDL).

Stocks to watch

SBI also wants the inclusion of green finance in the priority sector lending mandate, but the RBI and the government are averse to the idea because of the crowding-out effects on other aspects, Tewari said.

Under the agreement, both companies will promote, market & distribute SZC in India under different brand names; AstraZeneca will market SZC as Lokelma®, whereas Sun Pharma will promote and distribute the therapy as Gimliand®.

AstraZeneca will retain the intellectual property rights to SZC and hold the marketing authorisation along with the import licence of the molecule, the press release added.

The company also said it is in advanced talks with large two-wheeler original equipment manufacturers (OEMs) for such batteries, and two of them are likely to become its initial customers.

Speaking at its latest post-earnings analysts' call, the management said the first production will be an "NCM-based cylindrical cell line" primarily aimed at two-wheeler applications.

The next one to go live will be a prismatic LFP line targeted at stationary applications, it said.

Saif Partners Fund, reports say, will sell a 2% stake worth ₹1,640 crore.

JSW Infra: JSW Infra said that JSW Overseas FZE, its step-down wholly owned subsidiary, informed the company on Monday that it has entered into a share subscription and purchase agreement (“SSPA”) with Minerals Development Oman, SAOC (“MDO”) and South Minerals Port Company SAOC, Oman (a company incorporated in Oman by MDO) (“Port SPV”) to acquire 51% of the total equity share capital of the Port SPV, subject to fulfilment of the conditions precedent set out in the SSPA.

In a regulatory filing on Monday, the company informed that it has signed an Agreement to Lease (ATL) with IKEA India for the leasing of two floors of retail space at the Purva Zentech Park, located on Kanakapura Road, Bengaluru.

Expiry day trade setup

On the technical front, the index closed above the crucial resistance zone of 26,000, indicating a bullish sentiment. Experts believe the index could to the bullish momentum after closing above 26,000 levels for tomorrow’s expiry session.

On the options data front, the 26,000 calls continue to hold the highest open interest for tomorrow’s expiry. However, the 25,900 puts now hold the highest open interest on the downside, indicating strong support for tomorrow’s expiry.