12th November Market Report

Daily Market Report:

The Indian Equity benchmark indices BSE Sensex and Nifty 50 were closed negative at the end of the day. BSE Sensex was down by 433.13 points to 59919.69 and Nifty was down by 143.60 points to 17873.60

Titan, Hindalco, JSW Steel were the top gainers.

Markets underwent profit-taking for the third straight session as benchmark Nifty comfortably broke the intraday support of 17900, which is broadly negative

Nifty50 has been forming lower high-lows from the last two sessions: Chandan Taparia of Motilal Oswal Securities

Foreign fund outflows subdued traders' sentiments. FIIs have sold equities worth Rs.5,515 crore so far this month.

Market expert Ambareesh Baliga expects Coal India to perform much better in 2-3 quarters

Suzuki Motor expects automobile sales in India to decline 6%

US inflation hit a 30-year high level of 6.2 percent YoY adding fears of an earlier than expected rate hike

Rising inflationary pressure along with prospects of an early rate hike can keep the domestic market on edge as such indicators tempt foreign investors to pump out liquidity from emerging markets like India

Elon Musk sells around $5 billion of Tesla stock

U.S. Treasuries extended a selloff Friday on concern about high inflation and the prospect of faster monetary-policy tightening

Tata Steel Q2 profit jumps nearly eight-fold, revenue up 55% on year at Rs.60,282.8 crore

U.K. Gross Domestic Product (GDP) YoY at 6.6% vs Expected 6.8%

Today Results:

ONGC, Coal India, Grasim Industries, Hindalco Industries

Open Interest:

On open interest, Maximum put open interest was seen at 17500 followed by 17000. Maximum call open interest was seen at 18000 followed by 18500

Put Writing seen at 17000 followed by 17500

Call Writing seen at 18000 followed by 17900

India VIX up by 0.048% from 16.30 to 16.35 level.

Participant wise open interest data of FII Shows call selling in the index is more than put selling. FII's were 50.20% long in index future was increased compared to the previous day.

In Cash Market, FII's are net sellers 1637.46 crores, and DII's are net buyers 445.76 crores.

Options data suggests a trading range between 17700 to 18200.

Global Markets:

U.S Markets were closed mixed at the end of the Day 

Dow Jones industrial average was down by 158.71 points or 0.44% to 35921.23

S&P 500 Index was up by 2.56 points or 0.055% to 4649.27

Nasdaq Composite was up by 81.58 points or 0.52% to 15704.28

European markets were positive at the end of the day

Most of the Asian markets are positive right now 07.30 IST

SGX Nifty trading 50 points higher to 17976.50  07.30 IST

SGX Nifty indicates a positive opening for Indian markets.

Keep an eye on these Economic Data:

Eurozone Industrial Production MoM Data at 15.30 IST

India FX Reserves (USD) Data after Indian Market hours

India Consumer Price Index (CPI) YoY Data after Indian Market hours

U.S. JOLTs Job Openings Data after Indian Market hours