The Indian stock market is set to open in the red, with the SGX Nifty index showing a negative opening with a 98-point drop.
On the daily charts, the BSE Sensex sank 112.16 points to 60,433.45, while the Nifty50 fell 24.20 points to 18,044.30, forming a bearish candle.
The pivot charts show that the Nifty’s main support levels are 17,980.67 and 17,917.13, respectively. The major resistance levels to watch if the index rises are 18,110.17 and 18,176.13.
U.S. Market
Profit-taking and concerns about continued inflation prompted a broad sell-off on November 9, ending a multi-day run of straight record closing highs.
The Dow Jones Industrial Average sank 112.24 points, or 0.31 percent, to 36,319.98, while the S&P 500 dropped 16.45 points, or 0.35 percent, to 4,685.25, and the Nasdaq Composite slid 95.81 points, or 0.6 percent, to 15,886.54.
Asia Market
In Asia-Pacific trade on November 10, shares were mixed as investors reacted to the release of China’s October inflation data.
In Japan, the Nikkei 225 index remained unchanged, while the Topix index rose 0.13 percent. The Kospi index in South Korea fell 0.61 percent. The S&P/ASX 200 index in Australia rose 0.12 percent.
SGX Nifty Index
The SGX Nifty has opened with a 98-point drop, indicating a poor start for the market in India. Around 07:30 IST, the Nifty futures were trading at 17,982 on the Singaporean Exchange.
The RBI’s first worldwide hackathon, ‘HARBINGER 2021,’ will focus on ‘Smarter Digital Payments.’
On November 9, the Reserve Bank of India (RBI) announced the commencement of its first worldwide hackathon, dubbed “HARBINGER 2021 – Innovation for Transformation,” with the topic “Smarter Digital Payments.”
According to the RBI, the hackathon will allow participants to identify and build ideas that have the potential to make digital payments accessible to the underserved, improve payment convenience and user experience, reinforce digital payment security, and promote customer protection.
Oil prices climb as demand expectations grow and supplies tighten
On November 9, oil prices hit a two-week high as the US lifted travel restrictions and other signs of a worldwide post-pandemic recovery boosted demand, but supply remained constrained.
Brent crude futures jumped $1.35, or 1.6 percent, to $84.78 per barrel, while WTI crude in the United States rose $2.22, or 2.7 percent, to $84.15.
In Q3 2021, housing sales are up 46 percent, while office lease activity is up to 13.5 million square feet, according to CBRE
Housing sales increased about 46% quarter-over-quarter to 50,000 units in Q3 2021, and year-to-date sales increased by nearly 86 percent y-o-y on the strength of a favourable lending environment and government incentives. According to a research by CBRE South Asia Pvt Ltd titled India Market Monitor – Q3 2021, office leasing activity reached 13.5 million sq. ft. in Q3 2021, up 140 percent year on year, with the YTD total reaching 25 million sq. ft. for the key cities.
Pune had the highest percentage of housing sales in Q3 2021, with 33%, followed by Mumbai (23%), Bengaluru (17%), and Hyderabad (13%). (13 percent). The mid-segment and affordable/budget segments, respectively, accounted for 47 percent and 31 percent of sales increase in Q3 2021. According to the research, new project launches increased by roughly 37% year over year to 48,950 units in Q3 2021.
Today’s results
268 companies, including Bank of Baroda, Zomato, Affle India, Berger Paints, Glenmark Life Sciences, India Cements, Krishna Institute of Medical Sciences, Mazagon Dock Shipbuilders, Metropolis Healthcare, Nuvoco Vistas Corporation, Oil India, Pidilite Industries, and Tata Teleservices, will report September quarter earnings on November 10.
China issues a bond worth 4 billion euros
According to a term sheet reviewed by Reuters, China launched a three-tranche euro-denominated bond offering on Wednesday, marking the country’s second big foreign currency transaction in a month.
On October 29, the country’s Ministry of Finance said that the deal would raise up to 4 billion euros ($4.6 billion), with loans issued in three, seven, and 12-year tranches.
According to the term sheet, initial pricing guidance for investors has been set at the mid swap rate plus 20 basis points for the 3-year deal, 40 basis points for the 7-year deal, and 65 basis points for the 12-year tranche.
Data from the FII and DII
According to provisional data available on the NSE, foreign institutional investors (FIIs) net sold shares worth Rs 2,445.25 crore on November 9, while domestic institutional investors (DIIs) net bought shares worth Rs 1,417.63 crore.
NSE stocks that are subject to a F&O ban
The F&O prohibition for November 10 affects three stocks: Escorts, Punjab National Bank, and Sun TV Network. Companies in the F&O category that have crossed 95 percent of the market-wide position limit are included in the securities in the ban period.
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