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Stock Market Today: Top 10 critical updates to know before the market opens

Stock Market Today: Top 10 Insights for the Day Ahead

  • Sen­sex Nifty50 Today: The bench­mark Sen­sex and Nifty indices are expect­ed to open mar­gin­al­ly high­er, with the GIFT Nifty indi­cat­ing a pos­i­tive start with a gain of 19 points.
  • BSE Sen­sex and Nifty50: On Novem­ber 16, fol­low­ing the pre­vi­ous day gains, the BSE Sen­sex surged by 307 points to reach 65982, and the Nifty50 saw a gain of 90 points, clos­ing at 19765. This result­ed in the for­ma­tion of a bull­ish can­dle­stick pat­tern on dai­ly chart.
  • FIIs and DIIs: On Novem­ber 16, pro­vi­sion­al data from the Nation­al Stock Exchange indi­cates that for­eign insti­tu­tion­al investors pur­chased shares val­ued at Rs 957.25 crore, while domes­tic insti­tu­tion­al investors acquired stocks worth Rs 705.65 crore.

Commodity Prices

Oil Prices:

  1. US crude prices dropped over 4% due to increased inven­to­ries and a decline in indus­tri­al pro­duc­tion.
  2. West Texas Inter­me­di­ate (WTI) Decem­ber con­tract fell $3.62 (4.72%) to $73.04 per bar­rel.
  3. Brent Jan­u­ary con­tract tum­bled $3.59 (4.42%) to $77.59 per bar­rel.
  4. Both US crude and the glob­al bench­mark reached their low­est lev­els since ear­ly July.
  5. US crude inven­to­ries increased by 3.6 mil­lion bar­rels, while pro­duc­tion remained at a record 13.2 mil­lion bar­rels per day.
  6. US indus­tri­al pro­duc­tion fell by 0.6% in Octo­ber, attrib­uted to the impact of the Unit­ed Auto Work­ers strike on motor vehi­cle out­put.

Gold Prices:

  • Gold prices increased on Thurs­day due to a decline in U.S. Trea­sury yields, sig­nal­ing the belief that the Fed­er­al Reserve has con­clud­ed its rate hike cycle.
  • Spot gold saw a 1.3% rise, reach­ing $1,984.46 per ounce.
  • U.S. gold futures also expe­ri­enced a 1% increase, reach­ing $1,985.60.

Dol­lar Index:

  • The Dol­lar index saw a 0.06 per­cent decrease in futures, reach­ing 104.40, while the exchange rate for one dol­lar remained close to Rs 83.23.

Global Markets

U.S. Mar­kets:

  • Dow Jones Indus­tri­al Aver­age closed low­er, end­ing a four-day gain streak.
  • Dow slipped 0.13%, clos­ing at 34,945.47; S&P 500 ticked high­er by 0.12% to 4,508.24; Nas­daq inched up 0.07% to 14,113.67.
  • Cis­co Sys­tems dropped near­ly 10% due to weak guid­ance; Wal­mart slid 8% after a low­er-than-expect­ed fore­cast; both were top declin­ers in the Dow.
  • Chevron shares fell 1.6% as U.S. crude oil prices dropped 5%.
  • Despite the pause, Novem­ber’s stock ral­ly showed gains of about 2% for each of the three index­es.
  • Pos­i­tive fac­tors include Octo­ber’s 0.5% decline in the pro­duc­er price index and the con­sumer price index hold­ing flat, sug­gest­ing a slow­ing infla­tion trend.
  • Eco­nom­ic data indi­cates a gen­tle decel­er­a­tion towards less infla­tion with­out severe con­trac­tion.
  • S&P 500 is up more than 7%, Dow has advanced 5.7%, and Nas­daq is up 9.8% for the month, indi­cat­ing siz­able gains.

Ashok Leyland Charges Ahead: Unveils Electric LCVs with 10,000 Bookings, Paving the Way for Sustainable Last-Mile Logistics

  • Ashok Ley­land has unveiled its IeV series of elec­tric light com­mer­cial vehi­cles (e‑LCVs) and is opti­mistic about their prospects.
  • The com­pa­ny has already received over 10,000 book­ings for the elec­tric light trucks.
  • Dheer­aj Hin­du­ja, Exec­u­tive Chair­man of Ashok Ley­land, men­tioned that the elec­tric LCVs will be launched in the fourth quar­ter of the cur­rent finan­cial year.
  • Switch Mobil­i­ty, the elec­tric vehi­cle divi­sion of Ashok Ley­land, intro­duced the e‑LCVs (IEV3 & 4) in Chen­nai.
  • The vehi­cles are designed for eco-friend­ly last-mile trans­porta­tion, with a project cost of about Rs 100 crore.
  • The IeV 3 and IeV 4 are cat­e­go­rized as 2–3.5 tonne com­mer­cial vehi­cles and fea­ture a 330 V high volt­age EV archi­tec­ture.
  • The car­go body of these vehi­cles extends up to 9.7 feet, capa­ble of hold­ing a con­tain­er of 340 cubic feet.
  • Pro­duc­tion of these elec­tric vehi­cles will take place at Ashok Leyland’s Hosur facil­i­ty.

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