22nd 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 372.32 points to 59636.01 and Nifty was down by 133.85 points to 17764.80

SBIN, IOC, Power Grid were the top gainers.

Nifty seems to be on a correction from 17,450 to 17,325. 

Experts say it is just a correction unless Nifty goes below 17,300

Investors should observe FII activity to weigh the sentiment and adopt a selective approach rather than venturing in any aggressive trades.

FIIs have sold over Rs.40,000 crore from the start of October

Reliance, Saudi Aramco to re-evaluate investment proposal

US consumer prices, which rose at the fastest pace in more than three decades in October, and accelerating inflation expectations have raised expectations that the Fed will have to accelerate the downsizing of asset purchases and raise interest rates faster than expected

The minutes of the Federal Reserve’s meeting in November on Wednesday should give clues about its position on inflation.

Punjab National Bank raises Rs.1,919 crore via bonds

DLF included in Dow Jones Sustainability Index

India deposit growth at 11.4% vs previous 9.9%

India Bank loan growth at 7.1% vs previous 6.8%

India FX Reserves (USD) at $640.11 Billion vs previous $640.87 Billion

U.S. Initial Jobless Claims Data at 268k vs Expected 260k

U.K. Retail Sales MoM Data at 0.8% vs Expected 0.5%

Open Interest:

On open interest, Maximum put open interest was seen at 17500 followed by 17400. Maximum call open interest was seen at 18000 followed by 17900

Put Writing seen at 17300 followed by 17400

Call Writing seen at 17900 followed by 18000

India VIX fell by 0.82% from 14.98 to 14.86 level.

Participant wise open interest data of FII Shows call selling in the index is more than put selling. FII's were 53.82% long in index future was decreased compared to the previous day.

In Cash Market, FII's are net sellers 3930.62 crores, and DII's are net buyers 1885.66 crores.

Options data suggests a trading range between 17500 to 18000.

Global Markets:

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

Dow Jones industrial average was down by 268.97 points or 0.75% to 35601.98

S&P 500 Index was down by 6.58 points or 0.14% to 4697.96

Nasdaq Composite was up by 63.73 points or 0.40% to 16057.44

European markets were negative at the end of the day

Asian markets are mixed right now 07.30 IST

SGX Nifty trading 40 points higher to 17744 07.30 IST

SGX Nifty indicates a flat opening for Indian markets.

Keep an eye on these Economic Data:

U.K. Composite Purchasing Managers' Index (PMI) Data at 14.00 IST

U.S. Existing Home Sales Data after Indian market hours