Stock market today: All you need to know before you trade on November 21

Indian markets will open after a mid-week holiday due to the Maharashtra assembly elections. On Tuesday, markets snapped the 8-day correction fall to close nearly 70 points higher on NIFTY50. The fears of global war escalated quickly after Ukraine launched its first long-range missile attack on Russia, which pared all the gains of markets on Tuesday to close marginally positive.

Indian markets are expected to open negative on Thursday, largely led by negative global and domestic factors. The Asian markets traded largely negative on Thursday morning after Nvidia earnings failed to cheer investor confidence. The Japanese Nikkei index traded nearly 400 points lower, while Hong Kong’s Hang Seng index traded at 0.25% lower on Thursday morning

US markets

The US markets closed mildly positive, awaiting NVIDIA’s earnings, which is now one of the most valued stocks in the US economy. The NVIDIA earnings, which came post-market hours in the US, failed to cheer global investors despite posting strong earnings and providing robust guidance. The stock fell 2% in the after-hours trading in the US. Following the development, the US futures opened lower on Thursday. The tech-heavy NASDAQ futures traded 80 points lower, while Dow Jones futures traded 90 points lower on Thursday morning.

Crude oil

Crude oil prices increased as geopolitical tensions rose, driven by an escalation in the Russia-Ukraine war. Brent crude oil prices traded 0.2% higher on Thursday morning at $72.25 per barrel, while WTI crude traded nearly flat at $68.9 per barrel.

FII DII activity

Foreign institutional investors continued their record-selling spree in November as well. The FII sold ₹3411 crore on Tuesday, taking the monthly aggregate selling to ₹34,348 crores. On the contrary, domestic institutional investors continued to support the Indian markets by buying ₹2,783 crore. The DIIs bought Indian equities worth ₹31,636 crore in the month of November.

Chart Check

Technically, markets are at their long-term support levels of 200 DEMA. The NIFTY50, which bounced back strongly on Tuesday, closed at 23518 levels, near its 200 DEMA levels of 23541. The SENSEX closed at 77,578, above the 200 DEMA level of 77,398 on Tuesday.