The Nifty 50 had its best week in two months depite closing lower on Friday. Three consecutive positive weeks have put it within 250 points of 20,000. The index breached that level for the second day in a row on Friday but failed to sustain.
Stocks in Asia inched upward on Monday after small gains on Wall Street on Friday as optimism persists that the Federal Reserve will soon end its interest rate hikes.
Indexes rose in South Korea and Australia while Japan’s Nikkei 225 index traded at a 33-year high. US futures were little changed after the S&P 500 rose above 4,500 on Friday to notch its third straight week of gains — the longest run since July.
Sensex Today Live | Share Market Updates: Rupak De, senior technical analyst at LKP Securities
“Over the past two to three days, a ‘buy on dips’ approach has been loved by the street since the Nifty crossed the crucial 19,500 mark. The trend is expected to stay positive as the Nifty consistently concludes trading sessions above the critical moving averages.”
Sensex Today Live | Share Market Updates: Rupee likely to inch up on more dollar losses
The rupee is likely to open slightly higher on Monday after the dollar declined to its lowest in over two months against a basket of major peers. Non-deliverable forwards indicate rupee will open at around 83.24-83.25 to the US dollar, compared with 83.27 in the previous session.
Sensex Today Live | Share Market Updates: V K Vijayakumar, chief investment strategist at Geojit Financial Services
“An important trend in the market is the increasing clout of DIIs, HNIs and retail investors and the diminishing influence of FPIs. During August, September, October and November till 15th FPIs cumulatively sold stocks for ₹83422 crores through the exchanges. During this period DIIs alone bought stocks worth ₹77995 crores. FPI selling is completely getting neutralised by DII and individual investor buying. This is the reason why Nifty is around 19700, the same level which it was in early August.
“The resilience of the market and strong up moves on favourable days have forced a rethinking in FPI strategy. That’s why they turned buyers on 15th and 16th of this month after sustained selling in the first two weeks of November.”
Sensex Today Live | Share Market Updates: Gold weighed down by US yields
Gold prices edged lower in the early hours on Monday after hitting a two-week high in the last session, weighed down by a slight uptick in US Treasury yields.
Sensex Today Live | Share Market Updates: Cipla, Aurobindo Pharma, Delhivery among stocks in focus today
Cipla announced on Friday that it has pledged a guarantee of ZAR 945 million to FirstRand Bank in South Africa. The guarantee is meant to facilitate the extension of general banking facilities to Cipla’s subsidiary, Medpro Pharma.
Meanwhile, SoftBank sold a nearly 2.5% stake in Delhivery for ₹739 crore through an open market transaction. And the United States Food and Drug Administration (US FDA) concluded a pre-approval inspection of Unit-I & III of Aurobindo Pharma subsidiary APL Healthcare’s formulation manufacturing facility in Telangana with zero observations. Read more.
Sensex Today Live | Share Market Updates: GIFT Nifty signals muted start
GIFT Nifty on the NSE IX traded 14.5 points or 0.07 per cent down at 19,805, signaling that markets were headed for muted start.
Sensex Today Live | Share Market Updates: Dollar languishes as Fed expected to start easing monetary policy
The dollar was near an over two-month low on Monday, struggling to make headway as focus shifts to how soon the Federal Reserve could begin easing monetary policy. A key rate decision from China is also in focus, with expectations that Beijing will leave lending benchmark rates unchanged on Monday.
Sensex Today Live | Share Market Updates: Securities in F&O ban list for today
The NSE has added RBL Bank to its F&O ban list for November 20, while retaining Chambal Fertilisers and Chemicals, Delta Corp, Hindustan Copper, India Cements, Manappuram Finance, MCX India, and Zee Entertainment Enterprises in the list. SAIL has been removed from the F&O ban.
Sensex Today Live | Share Market Updates: FPIs turn buyers, invest ₹1,433 crore in equities this month
After sustained selling in the past two-and-a-half months, FPIs have bought Indian equities worth ₹1,433 crore so far in November, mainly because of the decline in US treasury bond yields and crude oil prices. Foreign portfolios investors (FPIs) were net sellers until November 15. However, they reversed the trend by infusing money during 16-17 November, data from the depositories showed.
Sensex Today Live | Share Market Updates: Oil futures nudge higher
Oil futures nudged higher on Monday, extending gains based on expectations that OPEC+ will deepen supply cuts to shore up prices. The price of oil has fallen for four weeks as concerns have eased that the Israel-Hamas conflict will disrupt supplies. Brent crude futures climbed 11 cents, or 0.1%, to $80.72 a barrel by 0012 GMT while US West Texas Intermediate crude was at $75.97 a barrel, up 8 cents. The front-month December contract expires later on Monday while the more active January futures gained 13 cents, or 0.2%, at $76.17 a barrel.
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