On Wednesday, October 30, 2024, the benchmark indices, Sensex and Nifty 50 are likely to open on a weak note following mixed cues from global markets. At 08:09 AM, Gift Nifty was trading down by 0.06% at 24,434.50.
On October 29, 2024, the Sensex rose 363.99 points, or 0.45%, to close at 80,369.03, while the Nifty 50 rallied 127.70 points, or 0.52%, ending at 24,466.85.
On October 29, 2024, DIIs bought securities worth ₹12,823.77 crore, while FIIs sold securities worth ₹16,057.19 crore.
Nifty’s PCR has shifted to 0.93 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.
On Tuesday, Crude oil prices steadied after two consecutive days of losses, with Brent crude futures edging up by 0.18% to $71.25 per barrel, and US WTI crude futures rising 0.22% to $67.36 per barrel.
Asian markets showed mixed performance on Wednesday, mirroring the overnight trend on Wall Street. Japan’s Nikkei 225 opened with a 0.8% gain, and the Topix rose by 0.6%. South Korea’s Kospi slipped 0.5%, and the Kosdaq dropped 0.4%. Meanwhile, Hong Kong’s Hang Seng index signalled a positive opening.
The US stock market closed mixed on Tuesday. The Nasdaq achieved a record-high close as investors weighed various corporate earnings and anticipated results from Alphabet. The Dow Jones Industrial Average declined by 154.52 points (0.36%) to 42,233.05, while the S&P 500 added 9.45 points (0.16%) to finish at 5,832.97. The Nasdaq Composite rose 145.56 points (0.78%) to end at 18,712.75, surpassing its previous record close from July.
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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.
Published on: Oct 30, 2024, 8:55 AM IST
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