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SENSEX FALLS OVER 450 POINTS
There is a strong tailwind and a strong headwind which can sway the market now. The tailwind is the sharp decline in Brent crude to $86.75, which is a big macro positive for India. But this tailwind is unlikely to take the market higher since the headwind in the form of steadily declining momentum in the recent market uptrend, is very strong. The optimism driven by the recent decline is US inflation has run its course and the market is likely to wait for further data on the direction of US inflation and interest rates. So, this is the time to play defensively rather than taking risky shots at the goal. Cautious defensive games can be a good short-term strategy.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Tata Steel, PNB among most active stocks on NSE
Price as on 21 Nov, 2022 09:19 AM, Click on company names for their live prices.
Opening Bell: Sensex falls over 300 points, Nifty below 18,250; Easy Trip Planners rallies 20%, Nykaa sheds 3%
Pre-open session: Sensex slips over 150 points; Nifty below 18,250
Asian markets fret on China COVID outbreaks, Fed outlook
Asian share markets turned hesitant on Monday as investors fretted about the economic fallout from fresh COVID-19 restrictions in China, while bonds and the dollar braced for more updates on U.S. monetary policy.
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 51.5 points, or 0.28 per cent, lower at 18,296, signaling that Dalal Street was headed for a negative start on Monday.
Tech View: Nifty forms red candles on daily and weekly charts
Indicating support-based buying at the 18,200 zones, the headline index Nifty today made a bearish candle with a long lower shadow on the daily chart. The red candle was seen on the weekly chart as well, but no major sign of trend reversal was noticed.
Tokyo shares open higher after Wall Street gains
Tokyo shares opened higher Monday as bargain hunters stepped into the market following gains in US stocks. The benchmark Nikkei 225 index added 0.16 percent, or 44.72 points, to 27,944.49 in early trade, while the broader Topix index rose 0.28 percent, or 5.5 points, to 1,972.53.
US stock market: S&P 500 ends higher, led by defensive shares
Wall Street’s benchmark S&P 500 index ended higher on Friday in a choppy trading session, as gains in defensive shares overshadowed energy declines, and investors shrugged off hawkish comments from Federal Reserve officials about interest rate hikes.
Oil dips near 2-month lows as supply concerns ease
Oil prices hovered near two-month lows on Monday as supply fears receded while concerns over China’s fuel demand and rising interest rates weighed on prices.
Rupee falls by 10 paise to 81.74 against USD
The rupee depreciated by 10 paise to close at 81.74 against the US currency on Friday, marking its third straight day of losses amid a lacklustre trend in domestic equities and firming crude oil prices.
Sensex, Nifty on Friday
The 30-share Sensex ended 87 points lower at 61,663, while its broader peer Nifty 50 settled just above the 18,300 level.