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Stock Market Live Updates | Gift Nifty Signals Flat Market Open Today

Synopsis:


Today’s share market’s key developments include: NIIF II plans to offload a ₹551 crore stake in Ather Energy, Mahindra & Mahindra and Manulife agree to a 50:50 life insurance venture, NCLT reserves its judgment on Vedanta’s demerger plea, Lupin expands in Vizag, Marathon Nextgen announces a Panvel project, and FIIs record net sales while DIIs report strong net purchases.


 3:30 PM IST

Stock Market LIVE Update | Sensex drops 100 points | Nifty slips below 25,850

Sensex slipped by around 100 points and Nifty moved below 25,850, while the rupee weakened to 88.68 against the US dollar. TMCV declined 3 percent, whereas Honasa Consumer gained 7 percent. Kinara Capital is seeking time from international lenders to restructure nearly ₹1,150 crore of debt. Life insurers report higher demand for pure protection plans after GST removal on term insurance. Rupee volatility has narrowed due to active RBI support. Fujiyama Power Systems plans to raise ₹600 crore for capacity expansion and debt repayment.

Source: Bajaj Broking Research Desk. 

GIFT NIFTY: Gift Nifty suggests a flat opening for the Indian market. Nifty spot in today's session is likely to trade in the range of 25,700-26,050.

INDIA VIX: 12.11 | -0.38 (3.04%) ↓ today

In-Depth Market Insights: Global Outlook, Derivatives & More

Other Asset Classes

  1. Treasury Yield:

    • U.S. Treasury yields were lower on Wednesday. The 10-year Treasury yield was down more than 4 basis points to 4.065%.

  2. Currency:

    • The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, was marginally higher at 99.49.

  3. Commodities:

    • Spot gold rose 1.8% at $4,199.63 per ounce, its highest level since October 21. 

    • Oil prices fell more than $2 a barrel on Wednesday, weighed down by an OPEC report saying global oil supply will match demand in 2026, marking a further shift from its earlier projections of a supply deficit. Brent crude futures fell $2.45, or 3.76%, to close at $62.71 a barrel.

Asian Markets

  1. General Trends:

    • Asia-Pacific markets mostly rose Thursday, following mixed trading on Wall Street as investors kept an eye on the U.S. government, which appeared poised to reopen as soon as the end of the week.

  2. Sector-Specific Indicator:

    • Japan’s benchmark Nikkei 225 index rose 0.23% in early trading, while the Topix added 0.62% to hit a record high.

India Market Outlook

  1. Market in the Previous Session:

    • Indian equity benchmarks extended gains on November 12th, closing on a firm footing with the Nifty decisively reclaiming the 25,850 mark.

    • Global markets moved higher as investor confidence improved, supported by hopes of a deal to avoid the U.S. government shutdown and rising expectations of early Fed rate cuts following signs of a slowdown in the U.S. job market. Exit poll of Bihar election giving majority to the ruling NDA government also supported the sentiment.

    • At close, the Sensex was up 595.19 points or 0.71% at 84,466.51, and the Nifty was up 180.85 points or 0.70% at 25,875.80.

    • Midcap index rose 0.79% and small-cap index added 0.82%. Midcap index in the process rallied to a fresh all time high.

    • Barring the realty & Metals index, all major sectoral indices closed in the green, with notable strength seen in IT, media, auto, telecom and consumer durables, which advanced between 1–2%. Trumph comment on tallent in US, indicate soften stance on H-1B visa led to a strong move on IT stocks. 

TRADE SETUP FOR NOV 13

  1. Nifty Short-Term Outlook:

    • Nifty formed a bullish candle on the daily chart, with a higher high and a higher low, and a bullish gap below its base (25715-25780), signalling the continuation of the up move.

    • In line with our expectations, buying momentum extended and tested our immediate resistance of 25850 in yesterday's session.

    • Going ahead, we expect the index to maintain a positive bias while holding above the Wednesday bullish gap area and head towards 26,000-26,100 levels in the coming sessions.

    • Key support is at 25,300–25,400, which aligns with the 50-day EMA, the previous breakout level, and the 50% retracement of the earlier up move (24,587–26,104).

  2. Intraday Levels:

    • Nifty: Intraday resistance is at 25,940, followed by 26,050 levels. Conversely, downside support is located at 25,780, followed by 25,700.

    • Bank Nifty: Intraday resistance is positioned at 58,570, followed by 58,730, while downside support is found at 58,000, followed by 57,800.

Derivative Market Analysis

  1. Nifty:

    • On the options front, the highest Call OI remains at 26,000 while the highest Put OI is seen at 25,800, keeping the index range-bound. 

    • In the previous session, Put writers were active below 25,900 while Call unwinding was seen below 25,800 and fresh writing emerged above 25,900 — suggesting a gradual base formation around 25,800.

    • The 25,800 level is acting as a strong support zone as Put writers continue to defend it, while 26,000 is proving to be a firm ceiling due to heavy Call writing. 

    • A sustained move below 25,800 could extend the decline towards 25,500, while a breakout above 26,000 may trigger short covering towards 26,200 on synthetic futures.

  2. Bank Nifty:

    • In Bank Nifty, aggressive activity was seen at 58,000 and 58,500 strikes. 

    • The previous session showed call unwinding between 58,000–58,200 and strong put writing in the 58,400–58,600 range, forming a solid base near 58,500.

    • Today, call writers were trapped between 58,000–58,200, and a similar setup near 58,500 could lead to a strong rally. 

    • Sustaining above 58,500 will keep the trend positive, while dips towards 58,000 are likely to attract buying interest.

US Share Market News

  1. Performance Overview:

    • S&P 500 struggled for direction on Wednesday as investors rotated out of tech and into blue-chip names ahead of the confirmation of a deal to end the longest-ever federal government shutdown. 

  2. Sector-specific indicator: 

    • Rotation out of tech was also spurred by strong earnings in cyclical sectors such as banks and industrials, which further encouraged investors to diversify after a largely tech-dominated rally on Wall Street this year.

    • The Dow Jones Industrial Average gained 318 points, or 0.7%, the S&P 500 was flat, and the NASDAQ Composite fell 0.4%.

  3. Economic indicator: 

    • The House of Representatives on Wednesday night passed a short-term funding bill that will end the longest U.S. government shutdown in history. The bill now heads to President Donald Trump's desk for signature into law.

    • Optimism over the government reopening drove some gains in Wall Street this week, as investors looked to an end to widespread disruptions in federal services. 

Stay on top of the latest market news with Bajaj Broking’s insights. Our point-to-point analysis digs deep into the surface, empowering you with a unique perspective on domestic and global stock market events. Get all the current share market news, including US share market updates and the trade set up for today, in one place to make informed investment decisions.

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