The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a negative opening for the index in India with a 98-points loss.
The BSE Sensex fell 112.16 points to 60,433.45, while the Nifty50 declined 24.20 points to 18,044.30 and saw a bearish candle formation on the daily charts.
According to pivot charts, the key support levels for the Nifty are placed at 17,980.67, followed by 17,917.13. If the index moves up, the key resistance levels to watch out for are 18,110.17 and 18,176.13.
Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today. We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:
US Markets
Wall Street closed lower on November 9, ending a multi-day rally of consecutive record closing highs as profit-taking and worries over ongoing inflation fueled a broad sell-off.
The Dow Jones Industrial Average fell 112.24 points, or 0.31 percent, to 36,319.98, the S&P 500 lost 16.45 points, or 0.35 percent, to 4,685.25 and the Nasdaq Composite dropped 95.81 points, or 0.6 percent, to 15,886.54.
Asian Markets
Shares in Asia-Pacific were mixed in November 10 trade as investors reacted to the release of Chinese inflation data for October.
The Nikkei 225 in Japan was little changed while the Topix index climbed 0.13%. South Korea’s Kospi dipped 0.61%. Shares in Australia edged higher, with the S&P/ASX 200 climbing 0.12%.
SGX Nifty
Trends on SGX Nifty indicate a negative opening for the index in India with a 98-points loss. The Nifty futures were trading at 17,982 on the Singaporean Exchange around 07:30 hours IST.
RBI launches its first global hackathon 'HARBINGER 2021' with ‘Smarter Digital Payments’ theme
The Reserve Bank of India (RBI) on November 9 announced the launch of its first global hackathon 'HARBINGER 2021 – Innovation for Transformation' with the theme ‘Smarter Digital Payments’.
The hackathon will invite participants to identify and develop solutions that have the potential to make digital payments accessible to the under-served, enhance the ease of payments and user experience, and strengthen the security of digital payments and promote customer protection, the RBI said in a statement.
Oil rises on higher demand forecasts, tight supplies
Oil prices rose to a two-week high on November 9 after the United States lifted travel restrictions and other signs of a global post-pandemic recovery boosted the demand outlook, while supply remained tight.
Brent futures rose $1.35, or 1.6%, to settle at $84.78 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $2.22, or 2.7%, to settle at $84.15.
Housing sales jump 46%, office leasing activity touches 13.5 million sq. ft in Q3 2021: CBRE
Housing sales jumped nearly 46 percent q-o-q to 50,000 units in Q3 2021 and sales rebounded by approximately 86 percent y-o-y on a year-to-date basis on the back of an attractive mortgage regime and government incentives. Office leasing activity reached 13.5 million sq. ft. in Q3 2021 growing at about 140 percent q-o-q, with the YTD number reaching 25 million sq. ft. for the key cities, says a report by CBRE South Asia Pvt Ltd titled India Market Monitor - Q3 2021.
Pune led housing sales in Q3 2021 with 33 percent, followed by Mumbai (23 percent), Bengaluru (17 percent) and Hyderabad (13 percent). At 47 percent and 31 percent, mid-segment and affordable/ budget respectively were the dominant growth driver of sales in Q3 2021. New project launches jumped by nearly 37 percent q-o-q to reach 48,950 units in Q3 2021, the report said.
Results today
Bank of Baroda, Zomato, Affle India, Berger Paints, Glenmark Life Sciences, India Cements, Krishna Institute of Medical Sciences, Mazagon Dock Shipbuilders, Metropolis Healthcare, Nuvoco Vistas Corporation, Oil India, Pidilite Industries and Tata Teleservices are among 268 companies that will release September quarter earnings on November 10.
China launches 4 bn euro bond deal
China launched on Wednesday a three-tranche euro-denominated bond issue in its second major foreign currency transaction in a month, according to a term sheet reviewed by Reuters.
The country’s Ministry of Finance said on October 29 the deal would raise up to 4 billion euros ($4.6 billion) and the debt would be issued in three, seven and 12 year tranches.
Initial pricing guidance for investors has been set at the mid swap rate plus 20 basis points area for the 3-year deal, 40 basis points area for the 7-year, and 65 basis points area for the 12-year tranche, the term sheet showed.
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 2,445.25 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 1,417.63 crore in the Indian equity market on November 9, as per provisional data available on the NSE.
Stocks under F&O ban on NSE
Three stocks - Escorts, Punjab National Bank and Sun TV Network - are under the F&O ban for November 10. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
[With agency inputs]
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