6 Things to Know Before Market Opens on October 11, 2024

The Indian stock market is expected to be impacted on October 11, 2024, following mixed trends in global markets. While Asian markets showed gains, U.S. stocks ended lower due to higher-than-expected inflation.

Previous Trading Session 

On October 10, 2024, Indian markets closed with small gains, supported by strong global trends. The Sensex increased by 144.31 points (0.18%) to end at 81,611.41, and the Nifty 50 rose by 16.50 points (0.07%) to close at 24,998.45.

FII and DIIs 

On October 10, 2024, DIIs bought securities worth ₹13,301.19 crore, while FIIs sold securities worth ₹21,440.91 crore.

Put Call Ratio (PCR)

Nifty’s PCR has shifted to 0.66  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.

Crude Price

Crude oil prices dropped after a 3% jump the previous night. Brent crude slipped 0.34% to $79.13 per barrel, while U.S. West Texas Intermediate (WTI) crude futures fell 0.29% to $75.63.

Asian Markets

Asian markets mostly moved higher after South Korea’s central bank announced its first interest rate cut since March 2022. Japan’s Nikkei 225 went up by 0.3%, and the Topix increased by 0.16%. South Korea’s Kospi rose by 0.8%, and the Kosdaq climbed 0.4%. Hong Kong’s Hang Seng index futures signalled a higher opening.

South Korea’s central bank reduced its key interest rate by 25 basis points to 3.25%.

US Markets

U.S. stock markets closed lower on October 10, 2024, after inflation came in higher than expected.

The Dow Jones Industrial Average dropped 57.88 points (0.14%) to 42,454.12. The S&P 500 fell 11.99 points (0.21%) to 5,780.05, and the Nasdaq Composite slipped 9.57 points (0.05%) to close at 18,282.05.

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.