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

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Stock Market Today: Top 10 Insights for the Day Ahead

• Sen­sex, Nifty 50 Today: The bench­mark Sen­sex and Nifty indices are expect­ed to open slight­ly low­er, with the GIFT Nifty indi­cat­ing a neg­a­tive start with a loss of 14 points.
• BSE Sen­sex and Nifty50: On Novem­ber 2, fol­low­ing a two-day decline, the BSE Sen­sex surged by 490 points to reach 64,081, and the Nifty50 saw a gain of 144 points, clos­ing at 19,133. This result­ed in the for­ma­tion of a mod­est bull­ish can­dle­stick pat­tern with both upper and low­er shad­ows on dai­ly time­frame.
• FIIs and DIIs: For­eign insti­tu­tion­al investors offloaded shares worth Rs 1216.19 crore, while domes­tic insti­tu­tion­al investors bought Rs 1380.15 crore worth of stocks on Novem­ber 1, accord­ing to pro­vi­sion­al data from the Nation­al Stock Exchange.

Commodity Prices

Oil Prices:

1. Oil prices rebound­ed with a 1 per­cent increase on Thurs­day.
2. Brent crude futures rose by $1.77 (2.1 per­cent) to $86.43 per bar­rel.
3. US West Texas Inter­me­di­ate crude futures gained $1.71 (2.1 per­cent) to reach $82.14 per bar­rel.
4. This ral­ly in oil prices was attrib­uted to a pos­i­tive mar­ket sen­ti­ment fol­low­ing the US Fed­er­al Reserve’s deci­sion to main­tain its bench­mark inter­est rate.
5. Mar­ket experts, such as Cal­lum Macpher­son, head of com­modi­ties at Investec, not­ed that the oil mar­ket respond­ed to the pos­i­tive sen­ti­ment in asset mar­kets dri­ven by the Fed’s deci­sion.

Gold Prices:

• Gold prices saw a slight increase on Thurs­day.
• This uptick was sup­port­ed by a weak­er U.S. dol­lar and Trea­sury yields.
• The Fed­er­al Reserve’s deci­sion to keep inter­est rates unchanged con­tributed to the pos­i­tive sen­ti­ment.
• Spot gold rose by 0.1 per­cent, reach­ing $1,983.77 per ounce by 0310 GMT.
• US gold futures also gained 0.2 per­cent, reach­ing $1,991.80.

Dol­lar Index: The Dol­lar index trad­ed 0.06 per­cent low­er in futures at 106.37, where­as the val­ue of one dol­lar hov­ered near Rs 83.09.

Global Markets

U.S. Mar­kets:

• In after-hours trad­ing, Apple’s stock declined by 3 per­cent fol­low­ing its weak rev­enue out­look for the Decem­ber quar­ter.
• Nas­daq 100 futures slipped by 0.3 per­cent, S&P 500 futures dropped by 0.1 per­cent, and Dow Jones Indus­tri­al Aver­age futures pulled back 19 points, or 0.06 per­cent.
• On Thurs­day’s reg­u­lar trad­ing ses­sion, there was a wide­spread stock ral­ly, with the S&P 500 gain­ing 1.9 per­cent, the Dow ris­ing 1.7 per­cent, and the Nas­daq Com­pos­ite increas­ing by about 1.8 per­cent.
• Addi­tion­al­ly, Square’s shares surged by 16 per­cent due to strong earn­ings and an improved full-year guid­ance, while Para­mount Glob­al’s stock jumped near­ly 5 per­cent after a robust quar­ter­ly report.

Euro­pean Mar­kets:

• Euro­pean mar­kets closed high­er in response to the US Fed­er­al Reserve’s deci­sion to main­tain inter­est rates.
• The Stoxx 600 end­ed 1.6 per­cent high­er with all sec­tors in pos­i­tive ter­ri­to­ry.
• Auto stocks rose by 3 per­cent, and tech stocks increased by 2.7 per­cent due to a ris­ing risk appetite.
• The Bank of Eng­land’s deci­sion to hold inter­est rates steady at mid­day was wide­ly expect­ed, fol­low­ing the Fed and Euro­pean Cen­tral Bank’s sim­i­lar paus­es in rate hikes.
• The Fed’s deci­sion to main­tain rates came amid signs of eco­nom­ic growth, with labor mar­ket con­di­tions and infla­tion remain­ing above tar­get.
• Asian mar­kets react­ed pos­i­tive­ly to the Fed’s deci­sion, and S&P 500 futures inched high­er as investors shift­ed their focus to cor­po­rate earn­ings reports.

Asian Mar­kets:

1. Asia-Pacif­ic mar­kets saw an increase, with a focus on forth­com­ing ser­vices pur­chas­ing man­agers’ index data from major economies like Chi­na, India, and Hong Kong.
2. Futures for Hong Kong’s Hang Seng index indi­cat­ed a high­er open com­pared to the pre­vi­ous close.
3. South Kore­a’s Kospi opened with a 0.78 per­cent rise, while the Kos­daq increased by 0.14 per­cent.
4. Japan­ese mar­kets were closed for a pub­lic hol­i­day.
5. Aus­trali­a’s S&P/ASX 200 trad­ed approx­i­mate­ly 0.9 per­cent high­er.
6. Wall Street index­es saw gains as Trea­sury yields fell, reflect­ing investor expec­ta­tions that the Fed­er­al Reserve might refrain from fur­ther rate hikes in 2023.
7. The Dow Jones Indus­tri­al Aver­age had its best day since June, end­ing 1.7 per­cent high­er, while the S&P 500 post­ed back-to-back gains of more than 1 per­cent for the first time since Feb­ru­ary, increas­ing by 1.89 per­cent.

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