Stock market today: All you need to know before going in to trade on November 22

Indian markets continued to face selling pressure on Thursday. The Adani group fiasco dampened the overall sentiment. PSU banks fell nearly 5% across the board due to their exposure to Adani group stocks.

GIFT NIFTY indicates a 30-point gap-down opening for Indian markets contrary to buoyant global market cues. Asian markets traded positively across the board, with Japanese markets leading with 340 or 0.8% gains on Friday morning.

US Markets

Stocks in the US markets closed higher on Thursday, primarily driven by optimism around strong economic growth and robust earnings. Shares like Salesforce and Snowflake closed 3.4% and 32% higher on Thursday over strong earnings in the Q3FY24. The Dow Jones closed 1.06% higher, followed by the S&P500 by 0.5% and NASDAQ by 0.36% on Thursday.

FII DII activity

The selling pressure by the FII increased on Thursday as they collectively sold ₹5,320 crore, while DII supported the market by ₹4,200 crore. The provisional figures suggest FII’s have sold nearly ₹40,000 crore worth of Indian equities in November to date.

Chart check

NIFTY50 and SENSEX, after a nearly 1% fall on Thursday, closed decisively below its 200 DEMA, which suggests pain in markets. However, broader indices respected the support levels of 200 DEMA.