16th November Market Report

Daily Market Report:

The Indian Equity benchmark indices BSE Sensex and Nifty 50 were closed flat at the end of the day. BSE Sensex was up by 32.02 points to 60718.71 and Nifty was up by 6.70 points to 18109.45

Power Grid, ONGC, ITC were the top gainers.

Markets are broadly in a consolidation phase so the prevailing volatility is normal

Investors are advised not to make any fresh entry in the current scenario

Indecisive candle hints at range bound action ahead, 18,200 level crucial for Nifty.

Optimism on Indian bourses also dampened with several international brokerages downgrading their outlook on Indian equities citing unfavourable risk-reward ratios

NTPC to set up a solid waste management plant worth Rs 180 crore in Varanasi

Vodafone Idea clarified that the company keeps discussing with various banks its funding and other requirements in the ordinary course of its business, including with State Bank of India

If U.S inflation doesn’t subside, the Federal Reserve may need to taper at a more substantial rate and hike interest rates, which could hurt stocks and bonds.

China's slowdown poses threat to global recovery.

India’s WPI inflation spikes to 12.54% in October

India Trade Balance at -19.73B vs Expected -19.90B

Open Interest:

On open interest, Maximum put open interest was seen at 17500 followed by 18000. Maximum call open interest was seen at 19000 followed by 18500

Put Writing seen at 18100

Call Writing seen at 18300 followed by 18200

India VIX up by 1.63% from 15.22 to 15.46 level.

Participant wise open interest data of FII Shows call selling in the index is more than put selling. FII's were 56.20% long in index future was decreased compared to the previous day.

In Cash Market, FII's are net buyers 424.74 crores, and DII's are net buyers 1524.67 crores.

Options data suggests a trading range between 17900 to 18300.

Global Markets:

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

Dow Jones industrial average was down by 12.86 points or 0.036 to 36087.45

S&P 500 Index was down by 0.050 points or 0.0011% to 4682.80

Nasdaq Composite was down by 7.11 points or 0.045% to 15853.85

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 52.50 points higher to 18191.50  07.30 IST

SGX Nifty indicates a positive opening for Indian markets.

Keep an eye on these Economic Data:

U.K. Average Earnings Index +Bonus Data at 12.30 IST

U.S. Core Retail Sales MoM Data after Indian market hours.

ECB President Lagarde Speaks Data after Indian markets.