By theindianinvestor 
22 November 2024
Time : 9 AM IST
Market Report :
US markets closed in green despite weak jobless claims: The US markets ended in the green, defying weaker-than-expected jobless claims data.
Yesterday’s market fall was mainly due to the Adani issue: Concerns around Adani group developments weighed heavily on market sentiment, leading to a decline.
US bond yields and dollar index stabilizing: Both are no longer rising continuously. However, if they resume an upward trend, it could spell trouble for Indian markets.
Brent crude rises over 2%: Yesterday’s rise of more than 2% in Brent crude prices has reignited uncertainty over the ongoing Russia-Ukraine war.
FII and DII activity: FIIs sold stocks worth over ₹5,000 crores, while DIIs bought approximately ₹4,200 crores. Additionally, FII net shorts in F&O positions stand at 75%, a bearish indicator.
Rupee at record low: The rupee breached the ₹84.5 mark against the USD, hitting a record low.
Gift Nifty indicates a gap-up opening: Gift Nifty signals a potential 90-point gap-up at the market’s opening.
Nifty’s technical outlook:
- Strong support is expected at 23,300, while resistance for the month could be around 23,800.
- The 200 DMA is at 23,500, making a close above this level crucial for market stability.
NTPC Green Energy IPO update: Subscribed 0.99x as of Day 2. Today is the last day to apply. The GMP stands at ₹1, indicating a flat to negative listing sentiment currently.