Before Market Opens: 9 things to know at 9 am on November 29, 2023 | Mint Primer
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Business News/ Photos / Before Market Opens: 9 things to know at 9 am on November 29, 2023

Before Market Opens: 9 things to know at 9 am on November 29, 2023

Indian markets are likely to open higher on Wednesday, despite mixed trade in global peers ahead of Q2 India GDP growth data due later this week. Meanwhile, Gift Nifty was trading 165 points higher, indicating a gap up start for Nifty. Let's take a look at some key cues before market opens today:

U.S. stocks ended with modest gains on Tuesday as investors parsed conflicting remarks from Federal Reserve officials, with upbeat consumer data providing some lift. All three major U.S. stock indexes lost momentum as the session progressed, but ended the range-bound session in the green. The Dow Jones Industrial Average added 83.51 points, or 0.24 percent, to close at 35,416.98. The S&P 500 inched higher by 0.10 percent to 4,554.89, and the tech-heavy Nasdaq Composite gained 0.29 percent to end the session at 14,281.76. (REUTERS)

1/9U.S. stocks ended with modest gains on Tuesday as investors parsed conflicting remarks from Federal Reserve officials, with upbeat consumer data providing some lift. All three major U.S. stock indexes lost momentum as the session progressed, but ended the range-bound session in the green. The Dow Jones Industrial Average added 83.51 points, or 0.24 percent, to close at 35,416.98. The S&P 500 inched higher by 0.10 percent to 4,554.89, and the tech-heavy Nasdaq Composite gained 0.29 percent to end the session at 14,281.76. (REUTERS)

Asia-Pacific markets were set to open lower as investors assess comments from the US Federal Reserve board members and await Australia’s October inflation figures. He also said the Fed might start lowering rates if inflation continues to ease over the next three to five months. In Australia, the S&P/ASX 200 extended gains from Tuesday and climbed 0.27%, ahead of the country’s October inflation reading.Japan’s Nikkei 225 slid 0.29 percent in early trade, while the Topix saw a smaller loss of 0.14 percent. South Korea’s Kospi lost 0.23 percent after hitting a two-month high on Tuesday, and the small-cap Kosdaq inched down marginally. Futures for Hong Kong’s Hang Seng index stood at 17,327, also pointing to a weaker open compared with the HSI’s close of 17,354.14.

2/9Asia-Pacific markets were set to open lower as investors assess comments from the US Federal Reserve board members and await Australia’s October inflation figures. He also said the Fed might start lowering rates if inflation continues to ease over the next three to five months. In Australia, the S&P/ASX 200 extended gains from Tuesday and climbed 0.27%, ahead of the country’s October inflation reading.Japan’s Nikkei 225 slid 0.29 percent in early trade, while the Topix saw a smaller loss of 0.14 percent. South Korea’s Kospi lost 0.23 percent after hitting a two-month high on Tuesday, and the small-cap Kosdaq inched down marginally. Futures for Hong Kong’s Hang Seng index stood at 17,327, also pointing to a weaker open compared with the HSI’s close of 17,354.14.

Frontline indices the Sensex and the Nifty 50 ended with gains on Tuesday, November 28, snapping their two-day losing run despite weak global cues.  Nifty 50 today opened at 19,844.65, 50 points higher from the previous close of 19,794.70, and traded in a range for the most part of the session. However, fag-end buying helped the market benchmark end with decent gains. Nifty 50 closed 95 points, or 0.48 percent, higher at 19,889.70 while the Sensex ended with a gain of 204 points, or 0.31 percent, at 66,174.20.

3/9Frontline indices the Sensex and the Nifty 50 ended with gains on Tuesday, November 28, snapping their two-day losing run despite weak global cues.  Nifty 50 today opened at 19,844.65, 50 points higher from the previous close of 19,794.70, and traded in a range for the most part of the session. However, fag-end buying helped the market benchmark end with decent gains. Nifty 50 closed 95 points, or 0.48 percent, higher at 19,889.70 while the Sensex ended with a gain of 204 points, or 0.31 percent, at 66,174.20.

At 8:20 am, the GIFT Nifty was trading 165 points or 0.83 percent higher at 20,028, indicating a gap-up opening for the Indian markets. 

4/9At 8:20 am, the GIFT Nifty was trading 165 points or 0.83 percent higher at 20,028, indicating a gap-up opening for the Indian markets. 

Oil prices rose on Wednesday as a storm in the Black Sea region disrupted oil exports from Kazakhstan and Russia, raising fears of supply tightness, while investors awaited a crucial decision by OPEC+, which may deepen or extend output cuts. Brent crude futures gained 33 cents, or 0.4%, at $82.01 a barrel at 0127 GMT. U.S. West Texas Intermediate (WTI) crude futures climbed 45 cents, or 0.6%, to $76.86 a barrel. (REUTERS)

5/9Oil prices rose on Wednesday as a storm in the Black Sea region disrupted oil exports from Kazakhstan and Russia, raising fears of supply tightness, while investors awaited a crucial decision by OPEC+, which may deepen or extend output cuts. Brent crude futures gained 33 cents, or 0.4%, at $82.01 a barrel at 0127 GMT. U.S. West Texas Intermediate (WTI) crude futures climbed 45 cents, or 0.6%, to $76.86 a barrel. (REUTERS)

FPIs have been bullish on Indian debt since the beginning of 2023 and have invested throughout the year, except March, when they had pulled out  <span class='webrupee'>₹</span>2,505 crore, data with the depositories showed. With the latest inflow, the net investment by FPIs into debt reached  <span class='webrupee'>₹</span>47,900 crore so far this calendar year. According to the data, overseas investors put a net amount of  <span class='webrupee'>₹</span>12,400 crore into the debt market this month (till November 27). This was the highest inflow since September 2021, when they had poured  <span class='webrupee'>₹</span>12,804 crore. This came following a net investment of  <span class='webrupee'>₹</span>6,382 crore in October.

6/9FPIs have been bullish on Indian debt since the beginning of 2023 and have invested throughout the year, except March, when they had pulled out 2,505 crore, data with the depositories showed. With the latest inflow, the net investment by FPIs into debt reached 47,900 crore so far this calendar year. According to the data, overseas investors put a net amount of 12,400 crore into the debt market this month (till November 27). This was the highest inflow since September 2021, when they had poured 12,804 crore. This came following a net investment of 6,382 crore in October.

The Indian rupee closed slightly higher on Tuesday, supported by foreign banks' dollar sales and softness in the greenback, which is hovering close to 3-month lows. The rupee ended at 83.3325 against the U.S. dollar, compared with its previous close at 83.3675.

7/9The Indian rupee closed slightly higher on Tuesday, supported by foreign banks' dollar sales and softness in the greenback, which is hovering close to 3-month lows. The rupee ended at 83.3325 against the U.S. dollar, compared with its previous close at 83.3675.

Foreign institutional investors bought shares worth  <span class='webrupee'>₹</span>783.82 crore, while domestic institutional investors purchased  <span class='webrupee'>₹</span>1,324.98 crore worth of stocks on November 28, provisional data from the National Stock Exchange showed.

8/9Foreign institutional investors bought shares worth 783.82 crore, while domestic institutional investors purchased 1,324.98 crore worth of stocks on November 28, provisional data from the National Stock Exchange showed.

Gold rose for a fourth consecutive session on Tuesday and hit a more than six-month high, driven by a retreating dollar and expectations that the U.S. Federal Reserve has finished hiking interest rates. Spot gold last gained 1.4 percent to $2,041.93 per ounce. U.S. gold futures for December delivery rose 1.55 percent to $2,043.10.

9/9Gold rose for a fourth consecutive session on Tuesday and hit a more than six-month high, driven by a retreating dollar and expectations that the U.S. Federal Reserve has finished hiking interest rates. Spot gold last gained 1.4 percent to $2,041.93 per ounce. U.S. gold futures for December delivery rose 1.55 percent to $2,043.10.

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