From global market to post market hour earnings: All you need to know

Indian markets resumed selling on Monday after closing positive on the special Muhrat trading session on Nov 1. The key benchmark indices like NIFTY50 and SENSEX fell over 2% intraday to hit four-month low levels ahead of key important events. Later in the closing session, markets trimmed some losses to close nearly 1.2% lower on NIFTY50 at 23,995 levels and 79,781 levels on the SENSEX.

Stock market today

The Indian markets are expected to open flat to positive as GIFT NIFTY is trading positive by 31 points at 24,101 at 8:00 am on Tuesday morning ahead of an important session before US election results are announced. Here is all you need to know before going to trade on Tuesday.

Global markets

The US markets closed lower on Monday ahead of key presidential election results to be announced on November 5. The NASDAQ and S&P 500 closed flat to negative with a 0.3% loss, while the Dow Jones closed 0.6% lower. Investors also turned cautious ahead of the Federal Reserve’s policy decision, which will be announced on November 7. Shares of Nvidia closed 2% higher on Monday following the news that it replaced Intel in the Dow Jones index.

The European markets, too, closed negative on a cautious note ahead of the US presidential election results. Germany’s DAX and France’s CAC closed nearly 0.5% lower, while the UK’s FTSE closed flat to negative with 0.1% losses on Monday, November 04.

Asian markets

The Asian markets were trading mixed this morning, with Japanese indices rising nearly 1.3% higher, supported by a solid corporate outlook and partly helped by the weaker Yen. The Chinese markets are trading 0.5% lower, awaiting its key stimulus decision.

Crude Oil

The oil price continued to rally on Monday after the oil producers cartel OPEC decided to delay its planned output increase of 180,000 by a month. Following the news, Brent crude oil prices closed 3.4% higher on Monday at $75.14 per barrel, and WTI crude oil prices closed at $71.6 per barrel, up by 3.4%.

Technicals

The NIFTY50 and SENSEX are inching closer to their 200 DEMA mark, which is considered to be long-term support for the market. The NIFTY50 is currently trading at 24000 levels, nearly 480 points away from its 200 DEMA at 23,514 levels. While the SENSEX’s 200 DEMA levels stand at 77262 levels, another 1500 points lower from current levels of 78782.

FII and DII data

The foreign institutional investors, which sold over ₹1 lakh crore worth of Indian equities in the month of October, continued their selling spree on the first full trading session in November as well. The FIIs sold ₹4,329 crore worth of Indian equities on Monday, and DIIs continued to support the market as they bought equities worth ₹2,936 crore.

Earnings check

The major earnings to be declared today include Berger Paints, Dr Reddy’s, Manappuram Finance, PB Fintech, Mazagon Dock Shipbuilders, Waaree Renewable Technologies and more.

IPO check

The Afcons Infrastructure IPO opened at 6% discount on Monday, but closed nearly 13% higher after Goldman Sachs, Jupiter India funds bought 25 lakh shares , Nomura funds, Ireland Plc bought 18.4 lakh shares and Nomura India bought 32 lakh shares in a bulk deal.

The Sagility India Ltd IPO opens today. It is an issue of ₹2,106 crore and is entirely an offer for sale. The lot size of the IPO is 500 shares at a price band of ₹28 to ₹30 per share.