Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices ended Tuesday’s trading session on a flat note. The NSE Nifty 50 slipped 5.05 points or 0.03% to settle at 19,406.70, while the BSE Sensex dropped 16.29 points or 0.03% to 64,942.40. The broader indices ended largely in green with the gains led by Nifty Next 50 and Smallcap stocks. Bank Nifty index added 118.50 points or 0.27% to 43,737.90. Pharma, Healthcare, Oil & Gas and PSU Bank stocks led the gains among the other sectoral indices while Realty, Media, Consumer Durables and Auto stocks faced corrections. Sun Pharma, BPCL, NTPC, Dr Reddy’s Labs and IndusInd Bank were the top gainers on the NSE Nifty 50, while the laggards included Hero MotoCorp, Bajaj Finance, JSW Steel, Divi’s Lab, and Reliance Industries. The volatility index (India Vix) ended up 0.78%.

(Source: NSE)

09:42 (IST) 7 Nov 2023 Derivative outlook

“Nifty weekly contract has highest open interest at 19,500 for Calls and 19,300 for Puts while monthly contracts have highest open interest at 20,000 for Calls and 19,000 for Puts. Highest new OI addition was seen at 19,450 for Calls and 19,300 for Puts in weekly and at 19,400 for Calls and 19,300 for Puts in monthly contracts. FIIs increased their future index long position holdings by 9.18%, decreased future index shorts by 5.42% and increase in index options by 10.31% in Call longs, 6.13% in Call short, 13.58% in Put longs and 22.89% in Put shorts,” said Anand James, Chief Market Strategist at Geojit Financial Services.

09:41 (IST) 7 Nov 2023 Markets’ outlook

“The market construct is favourable for consolidation around current levels and gradual up move. The 6-day winning streak in S&P 500 provides global stability to markets. Stable crude, steady dollar, down trending US bond yields and declining gold are indicators of stability in markets. Investors have to appreciate the fact that the rally in small and midcaps is primarily driven by retail buying on every dip. The explosive growth in demat accounts which have touched 132 million now is playing a major role in the rally in the broader market while the large caps are under pressure from FII selling. But large caps particularly ICICI Bank, HDFC Bank, RIL, Tata Motors, Bajaj Auto, L&T and Bajaj Finance have fundamental strength reinforced by the Q2 results. FIIs turning buyers in India is only a question of time. When that happens, large caps will outperform the broader market,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

09:19 (IST) 7 Nov 2023 Markets at open

The NSE Nifty 50 opened at 19,404.05 down 0.03%, while the BSE Sensex opened at 65,021.29 up 62 points.

09:08 (IST) 7 Nov 2023 USD-INR

“The USD/INR 28th November futures contract exhibited weakness as it dropped below the 83.30 level. On the daily technical chart, the pair is trading below its trend-line support level of 83.25, and the MACD is indicating a negative divergence. However, the RSI remains above 50 on the daily technical chart. According to the daily technical analysis, the pair has support at 83.05-82.92 and faces resistance at 83.35-83.55. If the pair continues to trade below 83.30, it could potentially weaken further towards the support levels of 83.05-82.92, with resistance remaining at 83.55,” said Rahul Kalantri, VP Commodities, Mehta Equities.

08:43 (IST) 7 Nov 2023 Market outlook

“Nifty showed impressive resilience with three consecutive days of gains, supported by Fitch’s upgraded GDP growth forecast for India. The benchmark Nifty is rising on hopes of the Federal Reserve pausing its rate hikes. Q2 corporate results are underwhelming, but the market remains bullish, targeting 19,500 and 19,707. Options data indicates a trading range of 18,700-19,600. State elections in several regions and Q2 results from companies are in focus. Trade strategies involve buying Nifty and Bank Nifty at the current market price with specific targets,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.

08:34 (IST) 7 Nov 2023 F&O Ban

The NSE has added Gujarat Narmada Valley Fertilizers and Chemicals on its F&O ban list for November 7, 2023.

08:32 (IST) 7 Nov 2023 FII, DII Data

Foreign institutional investors (FII) offloaded shares worth net Rs 549.37 crore, while domestic institutional investors (DII) added shares worth net Rs 595.70 crore on November 6, 2023, according to the provisional data available on the NSE.

08:30 (IST) 7 Nov 2023 Crude Oil

WTI crude prices are trading at $80.56 down 0.35%, while Brent crude prices are trading at $84.89 down 0.34%, on Tuesday morning.

08:25 (IST) 7 Nov 2023 Wall Street

US stocks closed slightly higher on Monday as investors awaited guidance from a host of Federal Reserve policymakers later in the week on the central bank’s policy path, with a large amount of bond supply also due to hit the market, reported Reuters. The tech-heavy Nasdaq Composite added 40.50 points or 0.30% at 13,518.78. The S&P 500 rose 7.64 points or 0.18% at 4,365.98, while the Dow Jones Industrial Average gained 34.54 points, or 0.10%, to 34,095.86.