Indian equity benchmarks ended higher on Monday. Traders hoped that the Federal Reserve will move away from its aggressive monetary policy. Lower domestic inflation eased sentiment further. Markets were cautious after World Bank said that India needs to invest $840 billion over the next 15 years to upgrade its urban infrastructure to meet the requirements of its fast-growing population in cities.

“The momentum indicator RSI (relative strength index) is sustaining above 65 mark and moving higher, which tells that the strong positive momentum is for the short to medium term,” Vidnyan Sawant, AVP – Technical Research at GEPL Capital said. Nifty will remain in a positive trend and move towards the level of 18,500 followed by the 18,650 mark. However, the bullish view will be negated if it breaches below 18,282 level, the market expert said.

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Indian Indices

The Sensex jumped 248.84 points or 0.40% to 61,872.99 while the Nifty rose 74.25 points or 0.41% to 18,403.40 at the end of the trading session on Tuesday. The Sensex moved in a high-low band of 61,955.96 and 61,436.90. There were 19 stocks advancing against 10 stocks declining, and 1 stable on the index. The Nifty traded in a range of 18,427.95 and 18,282.00. There were 36 stocks advancing against 14 stocks declining and 1 stable on the index.

Broader Indices

The broader indices ended mixed with the BSE MidCap index gaining 0.08% and the SmallCap index up by 0.01%. The top losing sectoral indices on the BSE were Oil & Gas down by 0.99%, Telecommunication 0.79%, Auto 0.75%, Bankex 0.70%, and Utilities 0.53%. While Metal up 0.60%, Capital Goods 0.21%, Realty 0.08%, Industrials 0.04%, and FMCG 0.03% 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, fell 1.84% to 14.64 on Tuesday.

SGX Nifty

The trends on SGX Nifty indicate a negative opening for the index in India with 30.5 points loss. The Nifty futures were trading at 18,464.00 on the Singaporean Exchange at around 08:22 hours IST.

Support and Resistance level

The key support level for the Nifty is placed at 18,315, followed by 18,281 and 18,225. If the index moves up, the key resistance levels to watch out for are 18,427 followed by 18,461 and 18,517, according to pivot charts.

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US Markets 

The S&P 500 rose 34.48 points, or 0.87%, to 3,991.73 points on Monday

The Dow Jones Industrial Average rose 56.22 points, or 0.17%, to 33,592.92 points. 

The Nasdaq 162.19 points, or 1.45%, to 11,358.41 points

The Russell 2000 index of smaller companies rose 27.95 points, or 1.50%, to 1,889.20 points.

Asian Markets

Asian markets settled higher with the KOSPI Composite up by 0.23%, the Nikkei 225 up by 0.10%, Shanghai Composite up by 1.64%, and the Hang Seng up by 4.11%.

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European Markets

European markets ended mixed on Tuesday. UK’s FTSE 100 fell 0.21%, France’s CAC rose 0.49%, and Germany’s DAX advanced 0.46%.

Bulk Deal data

PC Kothari HUF bought 8,42,000 shares in Fusion Micro Finance Ltd at Rs 331.45 per share on the NSE.

Vimal Kumar bought 1,47,481 shares in Best Agrolife Limited at Rs 1,609.25 per share on the NSE.

Massachusetts Institute Of Technology bought 5,52,281 shares in Fusion Micro Finance Ltd at Rs 339.28 per share on the NSE.

Jignesh V Shah HUF bought 5,24,000 shares in Fusion Micro Finance Ltd at Rs 339.31 per share on the NSE.

Mahesh Dinkar Vaze sold 89,000 shares in Hi-Tech Pipes Limited at Rs 630.48 per share on the NSE.

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DII and FII data

Foreign institutional investors (FIIs) have sold shares worth a net of Rs 221.32 crore, whereas domestic institutional investors (DIIs) sold shares worth a net of Rs 549.28 crore on November 15, as per data available on the NSE.

NSE F&O Ban

BHEL, Delta Corp, Sun TV Network, Punjab National Bank, and Gujarat Narmada Valley are securities placed under the F&O ban for November 16. 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.