Stock market today: All you need to know before opening bell on November 29

Indian markets closed in deep red on Thursday, led by multiple factors, including a selloff in IT stocks, a heated situation in the Russia-Ukraine war and the last day of the monthly expiry. The NIFTY50 and the SENSEX closed with nearly 1.5% losses, with IT stocks as the major index movers. The GIFT NIFTY indicates a sluggish or subdued start on Friday morning on mixed global cues.

Global markets

The US markets were closed on Wednesday due to Thanksgiving. However, the US futures of Dow Jones and Nasdaq traded in positive territory on Friday morning.The European markets closed in the green on Thursday. Germany’s DAX, France's CAC40, and Europe’s Euro Stoxx closed with 0.5% gains. France’s economic indicators, which include inflation, GDP, and consumer spending, will be released on Friday

Crude Oil

The oil prices traded flat on Friday morning as the OPEC+ meeting was postponed for the fourth day. The Brent crude oil prices traded at $72.6 per barrel largely unchanged over Thursday’s price. WTI crude oil prices traded at $68.8 per barrel on Friday morning.The key OPEC+ meeting is now scheduled on December 5 during which the group will decide on the supply of oil in 2025.

Geo-politics

The war situation in the Russia-Ukrain war escaltes further as Russia attacked key energy grids in the Ukraine. Further, he also warned of striking on Kyiv if it uses ballistic missiles from the western allies. On the other hand Israel too have warned Hezbollah of serious retaliatin if breaks the ceasefire between Israel and Lebanon .

Asian Markets

The Asian markets traded mixed on Friday morning as Japan’s Nikkei index fell 250 points. While Chinese and Hong Kong markets traded with minor gains. The Japanese Yen gained against US dollar on Friday morning as the Japanese Central bank is set to increase their interest rate by 25 bps in the upcoming policy meeting.

FII DII data

Foreign investors resumed selling Indian equities with more strength, selling equities worth ₹11,756 crore on Thursday. The strong selling volumes led to a sharp fall in the benchmark indices on Thursday. On the contrary, DIIs supported the market by buying Indian equities worth ₹8710 crore.

Chart check

After holding strong for three consecutive days, the NIFTY50 broke the 20SMA level of 23,992 from above, giving a bearish sign again for the market outlook. The SENSEX closed near its 20 SMA level of 79,037.