6 Things to Know Before Market Opens on November 18, 2024

The Indian stock market, represented by the Sensex and  Nifty 50, is likely to be impacted on Monday, November 18, reflecting weak trends in global markets.

Asian markets traded in the red, while US markets ended last week with losses. The S&P 500 and Nasdaq saw their biggest single-day declines in 2 weeks.

This week, investors will focus on important triggers, such as the Maharashtra Assembly elections, foreign fund inflows, geopolitical tensions in the Middle East, US bond yields, the movement of the US dollar, crude oil prices, and key domestic and global economic data.

Previous Trading Session 

Indian markets were closed on November 15, Friday for Guru Nanak Jayanti. 

On November 14, 2024, Thursday, both Sensex and Nifty 50 ended in the red for the 6th straight session. The Sensex fell by 110.64 points (0.14%) to 77,580.31, while the Nifty 50 dipped 26.35 points (0.11%) to close at 23,532.70. 

FII and DIIs 

On November 14, 2024, DIIs bought securities worth ₹10,200.35 crore, while FIIs sold securities worth ₹14,852.93 crore.

Put Call Ratio (PCR)

Nifty’s PCR has shifted to 0.65  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 dipped due to worries about increased supply and weak demand in China.

Brent crude slipped 0.13% to $70.95 per barrel after a 3.8% decline last week, while West Texas Intermediate dropped 0.31% to $66.81.

Asian Markets

Asian markets were mostly down on Monday as investors awaited key economic updates from the region, including China’s loan prime rate and Japan’s inflation data.

Japan’s Nikkei 225 dropped by 1.16%, and the Topix declined by 0.65%. In South Korea, the Kospi rose 1.06%, while the Kosdaq slipped 0.62%. Meanwhile, Hong Kong’s Hang Seng index futures suggested a positive start.

US Markets

Wall Street closed lower on Friday as concerns grew about the US Federal Reserve slowing down interest rate cuts.

The Dow Jones dropped 305.87 points (0.70%) to 43,444.99. The S&P 500 fell 78.55 points (1.32%) to 5,870.62, and the Nasdaq Composite declined 427.53 points (2.24%) to 18,680.12.

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.