On Wednesday, October 23, 2024, the benchmark indices, Sensex and Nifty 50 may move towards a flat to negative start as Gift Nifty traded lower 0.15% to 24,538 at 07:55 AM.
On October 22, 2024, the Indian securities market ended Tuesday’s trading session in the red. The benchmark indices Sensex and Nifty 50 each fell by over 1%. The BSE Sensex crashed 930.55 points, or 1.15% to 80,220.72, while the Nifty 50 ended the trading session with a fall of 1.25% or 309 points to 24,472.10.
On Tuesday, Nifty tumbled over 300 points. Small, midcaps see a sharp fall of over 2-4% a piece. All sectors closed lower led by PSU Banks, realty, and metals.NSE advance-decline ratio at 1:11. PSU bank index nosedives over 4% and realty slipped over 3%
On October 22, 2024, DIIs bought securities worth ₹5,869.06 crore, while FIIs sold securities worth ₹3,978.61 crore.
Nifty’s PCR has shifted to 0.49 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.
In energy markets, oil prices increased for the second straight session as traders discounted prospects of a ceasefire in the Middle East and concentrated on a tightening global supply and demand balance. The Brent crude futures for December increased 2.36% to $76.04 per barrel. Gold reached an all-time high. Spot gold rose 1.03% to $2,747.56 an ounce. US gold futures settled 0.8% higher at $2,759.8.
On Wednesday, Asia-Pacific markets were mixed, with Japan’s Nikkei 225 trading slightly below the flatline, 0.04%, while the broad-based Topix was higher by 0.19%. South Korea’s Kospi was up 0.43%, while the small-cap Kosdaq was down 0.72%
The Dow and the benchmark S&P 500 ended lower due to losses in utilities, commodities, and industrial sectors. The S&P 500 dropped 0.05% to 5,851.20, the Nasdaq Composite increased 0.18% to 18,573.13, and the Dow Jones Industrial Average dropped 0.02% to 42,924.89.
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.
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