6 Things to Know Before Market Opens on November 12, 2024

On Tuesday, November 12, 2024, the benchmark indices Sensex and Nifty 50 are expected to open muted amid mixed global market cues. At 08:07 AM, Gift Nifty was trading up by 0.08% at 24,258.50.

Previous Trading Session 

On November 11, 2024, the Sensex rose by 9.83 points, or 0.01%, to close at 79,496.15, while the Nifty 50 dropped 6.90 points, or 0.03%, lower at 24,141.30.

FII and DIIs 

On November 11, 2024, DIIs bought securities worth ₹9,848.87 crore, while FIIs sold securities worth ₹11,737.73 crore.

Put Call Ratio (PCR)

Nifty’s PCR has shifted to 0.73  in the previous session. A PCR ratio below 0.7 or heading toward 0.5 denotes a bearish trend, whereas a ratio above 0.7 or approaching 1 typically suggests a positive sentiment.

The increasing PCR, which is higher than 0.7 or surpasses 1, means traders are selling more Put options than Call options, which generally indicates the firming up of a bullish sentiment in the market. If the ratio falls below 0.7 or moves towards 0.5, then it indicates selling Call Options is higher than selling Put options, reflecting a bearish mood in the market.

Oil Prices

Crude oil prices remained under pressure, with Brent crude dropping 2.76% to $71.83 per barrel due to soft demand forecasts from China and oversupply concerns. The U.S. WTI crude futures managed a modest rebound of 0.28% to $68.23 after falling over 3% on Monday.

Asian Markets

Asian markets showed mixed performance on Tuesday, reflecting a cautious sentiment. Japan’s Nikkei 225 increased by 0.23%, and the Topix climbed by 0.68%. Meanwhile, South Korea’s Kospi fell 1.25%, and the Kosdaq Index dropped by 2.04%.

US Markets

U.S. stock markets ended on a high note Monday, with all major Wall Street indexes reaching record closing highs. The Dow Jones Industrial Average rose 0.69%, closing above 44,000 for the first time at 44,293.13, while the S&P 500 added 0.10% to finish at 6,001.35. The Nasdaq also saw a slight increase of 0.06%, closing at 19,298.76.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.