Indian equity benchmarks ended higher on Friday following the global markets. Asian, European, and US markets ended with gains on Friday hoping that US Federal Reserve may cool down on its aggressive monetary policy after the release of US inflation data with eased Consumer Price Index (CPI) to 7.7% in October. The USA also removed India from its currency monitoring list on Saturday.
“A long bull candle was formed on the daily chart with a huge unfilled opening upside gap. Nifty has decisively closed above the key hurdle of 18,150 levels and also placed at the edge of moving above another resistance of 18,350 levels (top of January 18 this year). This is a positive indication and one may expect further upside in the near term,” said Nagaraj Shetti, Technical Research Analyst at HDFC Securities.
He further said one can expect a new all-time high above 18,600 levels in the near term. Immediate support is placed at 18,150, he added.
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Indian Indices
The Sensex advanced 1,181.34 or 1.95% to 61,840.97 while the Nifty rose 321.50 or 1.78% to 18,349.70 at the end of the trading session on Friday. The Sensex moved in a high-low band of 61,840.97 and 61,311.02. There were 22 stocks advancing against 8 stocks declining on the index. The Nifty traded in a range of 18,362.30 and 18,259.35. There were 37 stocks advancing against 12 stocks declining and 1 stable on the index.
Broader Indices
The broader indices ended higher with the BSE MidCap index gaining 0.15% and the SmallCap index up by 0.33%. The top gaining sectoral indices on the BSE were IT by 2.06%, TECK 1.36%, Metal 1.35%, Financial Services 1.35%, and Realty 0.94%, while Auto 0.34%, FMCG 0.10%, Power 0.08%, and Utilities 0.05% were only gaining sectoral indices on BSE.
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India VIX Index
Nifty or India VIX, a gauge of the market’s expected volatility over the near term, tumbled 7.47% to 14.40 on Friday.
SGX Nifty
The trends on SGX Nifty indicate a negative opening for the index in India with 7 points loss. The Nifty futures were trading at 18,429.00 on the Singaporean Exchange at around 08:00 hours IST.
Support and Resistance level
The key support level for the Nifty is placed at 18,284, followed by 18,260 & 18,221. If the index moves up, the key resistance levels to watch out for are 18,363 followed by 18,387 and 18,427, according to pivot charts.
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US Markets
The S&P 500 rose 36.56 points, or 0.92%, to 3,992.93 points on Saturday
The Dow Jones Industrial Average rose 32.49 points, or 0.10%, to 33,747.86 points.
The Nasdaq 209.18 points, or 1.88%, to 11,323.33 points
The Russell 2000 index of smaller companies rose 14.81 points, or 0.79%, to 1,882.74 points.
Asian Markets
Asian markets ended higher on Friday with the KOSPI Composite up by 3.37%, the Nikkei 225 up by 2.98%, Shanghai Composite up by 1.69%, and the Hang Seng down by 7.74%.
European Markets
European markets ended mostly higher on Friday. UK’s FTSE 100 fell 0.78%, France’s CAC rose 0.58%, and Germany’s DAX advanced 0.56%.
Bulk Deal data
Tiger Global Eight Holdings sold 32,84,422 shares in PB Fintech Limited at Rs 388.34 per share on the NSE.
Dhwaja Commodity Services Private Limited sold 5,27,686 shares in Rama Steel Tubes Limited at Rs 159 per share on the NSE.
Nomura Singapore Limited bought 5,00,000 shares in Rama Steel Tubes Limited at Rs 164.15 per share on the NSE.
Lodha Ashok Kumar bought 1,50,000 shares in Salzer Electronics Ltd. at Rs 276.38 per share on the NSE.
Subhash Phootarmal Rathod sold 2,00,000 shares in Autoline Industries Limit at Rs 106.38 per share on the NSE.
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DII and FII data
Foreign institutional investors (FIIs) have bought shares worth a net of Rs 3,958.23 crore, whereas domestic institutional investors (DIIs) bought shares worth a net of Rs 615.54 crore on November 11, as per data available on the NSE.
NSE F&O Ban
Punjab National Bank and Gujarat Narmada Valley are securities placed under the F&O ban for November 14. Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.
