10 Important Stock Market Updates To Know Before It Opens

10 Important Stock Market Updates To Know Before It Opens

It is expected that the Indian stock market would open on a cautious note on Tuesday as the trends on the SGX Nifty portray a loss of 7 points. In this respect, let us have a look at the stock market updates before it opens today. 

The Bombay Stock Exchange (BSE) Sensex increased by 477.99 points to 60,545.61, while the increase in Nifty50 is by 151.70 points to 18,068.50 on 08.11.2021 (Monday) and created a bullish graph on the daily charts. 

As per the pivot charts, the key level of support for Nifty is kept at 17,907.2 which is further followed by 17,745.8. If there is an increase in the index, the prime resistance levels to watch out for are 18,249.2 and 18,158.9. With this let us have a look at all the stock market updates that can have a great impact on the Indian as well as global market.

US Markets

The stocks of Wall Street ended moderately higher on Monday, increasing early after the passage of a spending bill of the US Infrastructure but paring gains late as the Tesla shares that were sliding weighed down the indexes. 

There was an increase in the Dow Jones Industrial Average of 104.27 points or 0.29 per cent, to 36,432.22, the S&P 500 received 4.17 points or 0.09 per cent to 4,701.7 and the Nasdaq Composite further added 10.77 points or 0.07 per cent to 15,982.36.

Asian Markets

The stocks of Wall Street followed by the Asian Shares in Tuesday’s early trade as the US infrastructure bill’s passage boosted sentiments while the prices of oil increased in the view of energy demand in a global economy that is quite broad. 

At the beginning of the Asian trading day, The broadcast index of MSCI of the Asia-Pacific shares other than japan was increased by 0.3 per cent. The Nikkei Stock index in Japan increased by 0.06 per cent while there was a decrease in the Australian shares by 0.12 per cent.

SGX Nifty

The trends on the SGX Nifty today portray a prudent opening for the index in India with a loss of 7 points. The futures of Nifty were trading at 18,130 on the Singaporean Exchange at around 07.30 hours IST.

Oils Raised By US Spendings As Concern For Supply Increases

The prices of Oil increased on Monday as positive signs for global economic growth helped the vision for the demand for energy and the US asserted that it was weighing options to cater to the rising price. 

Brent Crude increased by 71cents or 0.83 per cent at $83.44 a barrel by 2.28 pm, having decreased nearly 2 per cent in the last week. US oil got 68 or 0.84 per cent to $81.95 after falling by 3 per cent last week. Both the contracts increased by over $1 every barrel in early trade.

GDP Likely To Grow At 10-10.5% In Fy2022: Report

This is sureshot  Indian stock market news tomorrow. Brickwork Ratings, the domestic rating agency, on Monday, revised its expansion estimate for the gross domestic product (GDP) of the country to 10-10.5 per cent in the present financial year from an earlier prediction of a 9 per cent growth.

Many indicators of economic growth are proposing a faster-than-expected recovery in economic activities, it said.

“We revise our GDP estimates for FY22 to 10-10.5 percent from 9 percent estimated earlier.”

The credit rating agency asserted in a report that was released on Monday.

Inspira Enterprise Gets SEBI Nod To Go Ahead With Rs 800-Crore IPO

Inspira Enterprise India which is an IT solution provider has got markets regulator SEBI’s go-ahead to lift Rs 800 crore via an IPO (Initial Public Offerings).

The primary share-sale comprises of fresh issuance of equity shares to the group of Rs 300 crore and an OFS (offer of sale) of equity shares that is worth Rs 500 crore by Manjula Jain Family Trust, Prakash Jain, and Prakash Jain Family Trust, as per the DRHP (draft red herring prospectus).

Stock Market Updates: Results Today

Mahindra & Mahindra, Bosch, AstraZeneca Pharma, Power Grid Corporation, BHEL, Indraprastha Gas, HEG,  MRF, and Petronet LNG among 160 other companies will release their September quarter earnings on November 9, 2021.

Gold Steadies As Soft Dollar Offsets Stable U.S. Bond Yields

The prices of Gold were stable on Tuesday, combining near a two-month high rated in the previous session, as a weak dollar offset firm US bond yields.

Spot gold was little altered at $1,823.53 on every ounce by 0051 GMT. US gold futures decreased by 0.1 per cent to $1,825.80. The precious metal attained its highest since September 7 on Monday as the dollar muffled and important central banks asserted inflation would likely to fade and immediate interest rate increases were not needed.

DII And FII Data

FIIs (Foreign institutional investors) net sold shares of worth Rs 860.65 crore, while DIIs (domestic institutional investors) net bought shares of worth Rs 1,911.77 crore in the Indian equity market as of November 8, as per provisional data that is available on the National Stock Exchange (NSE).

Stocks Under F&O Ban On NSE

Three stocks – Punjab National Bank, Escorts, and Sun TV Network are presently under the F&O ban for November 9. Under the F&O segment, the securities in the ban period include companies where the security has surpassed 95 per cent of the market-wide position limit.

Conclusion

The stock market is in a volatile state presently and before the market opens today it is important for you to know the stock market updates. So here are the top 10 updates before the share market today open.

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Yaseer Rashid

Yaseer Rashid got a degree in Journalism and worked as a freelancer. Later he joined News Magnify as a Business and stock writer.

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