23rd 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 1170.12 points to 58465.89 and Nifty was down by 348.25 points to 17416.55

Bharti Airtel, JSW Steel, Asian paints were the top gainers

Nifty50 is trading around a PE of 24, a 12-month low,

Biggest market fall in 7 months leaves investors poorer by Rs.8 lakh crore

Nifty50 on yesterday could not sustain and saw heavy selling pressure.

FIIs are also a seller due to fear of overvaluation of India compared to peers

With the recent correction, markets have entered into consolidation phase.

Reasons for yesterday's market fall - Sell-off in Reliance stock, Investors preferred to take some profits in private banks, IPOs disappoint, Persistent FIIs selling

The markets will take direction from macroeconomic data that is expected to be released during the week.

The US and the eurozone will release manufacturing and service data on Tuesday. 

Further data from the US, including minutes of the Fed's last policy meeting, GDP and initial jobless claims, will be released on Wednesday

Aramco deal 're-evaluation' erases $9b in Reliance market cap

India's GDP likely to grow 8.1% in Q2 FY22: SBI report

Bharat Electronics bags biggest ever export order

Open Interest:

On open interest, Maximum put open interest was seen at 17000 followed by 17400. Maximum call open interest was seen at 18000 followed by 17800

Put Writing seen at 17000 followed by 17200

Call Writing seen at 17600 followed by 17500

India VIX up by 2.66% from 14.86 to 17.52 level.

Participant wise open interest data of FII Shows call selling in the index is more than put selling. FII's were 54.14% long in index future was equal compared to the previous day.

In Cash Market, FII's are net sellers 3438.76 crores, and DII's are net buyers 2051.18 crores.

Options data suggests a trading range between 17000 to 17500.

Global Markets:

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

Dow Jones industrial average was up by 17.27 points or 0.049% to 35619.25

S&P 500 Index was down by 15.02 points or 0.32% to 4682.94

Nasdaq Composite was down by 202.68 points or 1.26% to 15854.76

European markets were negative at the end of the day

Most of the Asian markets are negative right now 07.30 IST

SGX Nifty trading 68.50 points lower to 17377.50   07.30 IST

SGX Nifty indicates a flat to negative opening for Indian markets.

Keep an eye on these Economic Data:

Eurozone Manufacturing Purchasing Managers Index (PMI) Data at 14.30 IST

U.K. Manufacturing Purchasing Managers Index (PMI) Data at 15.00 IST

U.S. Manufacturing Purchasing Managers Index (PMI) Data after Indian market hours