Indian equity benchmarks ended lower on Thursday, close to their day’s low points. Sentiments weakened after Crisil reported that as much as 43% of India’s MSME universe is expected to remain below the pre-pandemic level in terms of EBITDA margin this fiscal year because of the inability to survive inflation and unfavorable exchange rate 

“Nifty is now placed at the lower end of the range of the last four sessions. Positive chart patterns like higher tops and bottoms continued on the daily chart and further consolidation/weakness from here is likely to be a higher bottom of the sequence,” Nagaraj Shetti, Technical Research Analyst at HDFC Securities said.

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Indian Indices

The Sensex fell 230.12 points or 0.37% to 61,750.60 while the Nifty was down 65.75 points or 0.36% to 18,343.90 at the end of the trading session on Thursday. The Sensex moved in a high-low band of 62,050.80 and 61,643.27. There were 8 stocks advancing against 22 stocks declining. The Nifty traded in a range of 18,417.60 and 18,312.95. There were 13 stocks advancing against 37 stocks declining.

Broader Indices

The broader indices ended mostly lower with the BSE MidCap index losing 0.33% and the SmallCap index down by 0.27%. The top losing sectoral indices on the BSE were Consumer Durables down by 1.65%, Utilities 1.50%, Auto 1.35%, Power 1.34%, and Consumer Discretionary 0.92%. While Capital Goods 1.00%, Telecommunication 0.54%, and Industrials 0.46% 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 1.47% to 14.88 on Thursday.

SGX Nifty

The trends on SGX Nifty indicate a positive opening for the index in India with 52 points gain. The Nifty futures were trading at 18,427.00 on the Singaporean Exchange at around 08:25 hours IST.

Support and Resistance level

The key support level for the Nifty is placed at 18,318, followed by 18,293 & 18,253. If the index moves up, the key resistance levels to watch out for are 18,398 followed by 18,423 and 18,463, according to pivot charts.

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US Markets 

The S&P 500 fell 12.23 points, or 0.31%, to 3,946.56 points on Thursday

The Dow Jones Industrial Average fell 7.52 points, or 0.02%, to 33,546.32 points. 

The Nasdaq fell 38.70 points, or 0.35%, to 11,144.96 points

The Russell 2000 index of smaller companies fell 14.04 points, or 0.76%, to 1,839.12 points.

Asian Markets

Asian markets settled lower with the KOSPI Composite down by 1.39%, the Nikkei 225 down by 0.35%, Shanghai Composite down by 0.15%, and the Hang Seng down by 1.15%.

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European Markets

European markets ended mixed on Thursday. UK’s FTSE 100 fell 0.06%, France’s CAC fell 0.47%, and Germany’s DAX rose 0.23%.

Bulk Deal data

SVF India Holdings (Cayman) Limited sold 2,93,50,000 shares in One 97 Communications Ltd at Rs 555.67 per share on the NSE.

IDBI Trusteeship Services Ltd sold 2,20,00,000 shares in Hindustan Construc Company at Rs 16.4 per share on the NSE.

Progyan Construction & Engineers Private Limited sold 2,20,000 shares in Bajaj Healthcare Limited at Rs 384.32 per share on the NSE.

Mahesh Dinkar Vaze sold 1,35,000 shares in Hi-Tech Pipes Limited at Rs 596.61 per share on the NSE.

Agrawal Gaurav sold 54,824 shares in Goa Carbon Ltd at Rs 615.16 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 618.37 crore, whereas domestic institutional investors (DIIs) bought shares worth a net of Rs 449.22 crore on November 17, as per data available on the NSE.

NSE F&O Ban

Balrampur Chini Mills, Indiabulls Housing Finance, BHEL, Delta Corp, Sun TV Network, and Gujarat Narmada Valley are securities placed under the F&O ban for November 18. 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.