Before Market Opens: 9 things to know at 9 am on November 30, 2023 | Mint Primer
OPEN IN APP
Active Stocks
Wed Feb 28 2024 15:59:21
  1. Tata Motors share price
  2. 957.75 -0.52%
  1. Tata Steel share price
  2. 140.75 -2.36%
  1. HDFC Bank share price
  2. 1,408.15 -0.87%
  1. Power Grid Corporation Of India share price
  2. 279.55 -4.43%
  1. ITC share price
  2. 408.60 -0.62%
Business News/ Photos / Before Market Opens: 9 things to know at 9 am on November 30, 2023

Before Market Opens: 9 things to know at 9 am on November 30, 2023

Indian markets are likely to open higher on Thursday, despite mixed trade in global peers ahead of Q2 India GDP growth data due later this week. Meanwhile, Gift Nifty was trading 20 points higher, indicating a positive start. Let's take a look at some key cues before the market opens today:

U.S. stocks edged lower on Wednesday as a robust upward GDP revision eased recession fears, while Federal Reserve officials' remarks raised questions about the duration of the central bank's restrictive policy. The Nasdaq joined the S&P 500 in negative territory, while the Dow ended nominally higher, as investors took a wait-and-see position ahead of Thursday's crucial personal consumption expenditure (PCE) inflation report. The Dow Jones Industrial Average rose 13.44 points, or 0.04%, to 35,430.42, the S&P 500 lost 4.31 points, or 0.09%, at 4,550.58 and the Nasdaq Composite dropped 23.27 points, or 0.16%, to 14,258.49. (REUTERS)

1/9U.S. stocks edged lower on Wednesday as a robust upward GDP revision eased recession fears, while Federal Reserve officials' remarks raised questions about the duration of the central bank's restrictive policy. The Nasdaq joined the S&P 500 in negative territory, while the Dow ended nominally higher, as investors took a wait-and-see position ahead of Thursday's crucial personal consumption expenditure (PCE) inflation report. The Dow Jones Industrial Average rose 13.44 points, or 0.04%, to 35,430.42, the S&P 500 lost 4.31 points, or 0.09%, at 4,550.58 and the Nasdaq Composite dropped 23.27 points, or 0.16%, to 14,258.49. (REUTERS)

Asia-Pacific markets fell across the board on Thursday ahead of key economic data from the region. China will release its November purchasing managers’ index reading later in the day, while Japan saw its October retail sales climb lower than expected at 4.2 percent year-on-year. South Korea’s industrial output numbers surprised the market, registering a 3.5 percent fall compared to expectations of a 0.5 percent rise from economists polled by Reuters. The country will also see its central bank announce its rate decision today. In Australia, the S&P/ASX 200 inched down marginally. Japan’s Nikkei 225 slid 0.25 percent and extended its three-day losing streak, with the Topix also down by 0.14 percent. South Korea’s Kospi also fell 0.29 percent, while the small-cap Kosdaq was marginally above the flatline.

2/9Asia-Pacific markets fell across the board on Thursday ahead of key economic data from the region. China will release its November purchasing managers’ index reading later in the day, while Japan saw its October retail sales climb lower than expected at 4.2 percent year-on-year. South Korea’s industrial output numbers surprised the market, registering a 3.5 percent fall compared to expectations of a 0.5 percent rise from economists polled by Reuters. The country will also see its central bank announce its rate decision today. In Australia, the S&P/ASX 200 inched down marginally. Japan’s Nikkei 225 slid 0.25 percent and extended its three-day losing streak, with the Topix also down by 0.14 percent. South Korea’s Kospi also fell 0.29 percent, while the small-cap Kosdaq was marginally above the flatline.

Domestic benchmark equity indices Sensex and Nifty 50 ended higher on Wednesday's session led by bank, information technology (IT), and auto stocks amidst favourable global cues. The 30-share BSE Sensex ended higher by 727.71 points or 1.10% at 66,901.91 level while the Nifty 50 closed at 20,096.60 level, up 206.90 points or 1.04%. For the first time since September 20, 2023, the Nifty 50 index rose by 0.60% to 20,008.45 points during morning trading. Nifty 50 was trading above 20,100 intraday for the first time since September 18 in the final hour of the session. The BSE Sensex hit its all-time peak of 67,927.23 on the same day.

3/9Domestic benchmark equity indices Sensex and Nifty 50 ended higher on Wednesday's session led by bank, information technology (IT), and auto stocks amidst favourable global cues. The 30-share BSE Sensex ended higher by 727.71 points or 1.10% at 66,901.91 level while the Nifty 50 closed at 20,096.60 level, up 206.90 points or 1.04%. For the first time since September 20, 2023, the Nifty 50 index rose by 0.60% to 20,008.45 points during morning trading. Nifty 50 was trading above 20,100 intraday for the first time since September 18 in the final hour of the session. The BSE Sensex hit its all-time peak of 67,927.23 on the same day.

At 8:20 am, the GIFT Nifty was trading 20 points or 0.10 percent higher at 20,225, indicating a positive opening for the Indian markets. 

4/9At 8:20 am, the GIFT Nifty was trading 20 points or 0.10 percent higher at 20,225, indicating a positive opening for the Indian markets. 

Oil prices fell in early Asian trade on Thursday on weaker-than-expected Chinese manufacturing data, but investors maintained caution ahead of an OPEC+ meeting where production cuts are expected. Brent crude futures fell 28 cents, or 0.3%, to $82.90 a barrel by 0024 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 24 cents, or 0.3%, to $77.68 a barrel.  (REUTERS)

5/9Oil prices fell in early Asian trade on Thursday on weaker-than-expected Chinese manufacturing data, but investors maintained caution ahead of an OPEC+ meeting where production cuts are expected. Brent crude futures fell 28 cents, or 0.3%, to $82.90 a barrel by 0024 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 24 cents, or 0.3%, to $77.68 a barrel.  (REUTERS)

All eyes are set on India's gross domestic product (GDP) growth data for the September quarter of FY24 (Q2FY24) which will be announced later on Thursday (November 30). Most experts believe that the Q2 GDP growth data will likely surpass RBI's estimates for the second time in a row in the current fiscal. RBI expects the country's GDP growth at 6.5 percent for the second quarter of FY24, which was the same as its estimate for the June quarter (Q1FY24). If Q2 GDP comes around 7 percent or above, which most analysts expect then it would be the second consecutive quarter where the economy has surpassed RBI's estimates in this fiscal. In Q1FY24, India's GDP expanded to 7.80 percent, surpassing market expectations of 7.7 percent and RBI forecast of 6.5 percent.

6/9All eyes are set on India's gross domestic product (GDP) growth data for the September quarter of FY24 (Q2FY24) which will be announced later on Thursday (November 30). Most experts believe that the Q2 GDP growth data will likely surpass RBI's estimates for the second time in a row in the current fiscal. RBI expects the country's GDP growth at 6.5 percent for the second quarter of FY24, which was the same as its estimate for the June quarter (Q1FY24). If Q2 GDP comes around 7 percent or above, which most analysts expect then it would be the second consecutive quarter where the economy has surpassed RBI's estimates in this fiscal. In Q1FY24, India's GDP expanded to 7.80 percent, surpassing market expectations of 7.7 percent and RBI forecast of 6.5 percent.

The Indian rupee gave up early gains to end flat against the US dollar on Wednesday amid a rebound in American currency and gains in crude oil prices. The local currency ended at 83.325 a dollar as compared to its previous close of 83.33. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.12% at 102.87.

7/9The Indian rupee gave up early gains to end flat against the US dollar on Wednesday amid a rebound in American currency and gains in crude oil prices. The local currency ended at 83.325 a dollar as compared to its previous close of 83.33. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.12% at 102.87.

Foreign institutional investors bought shares worth  <span class='webrupee'>₹</span>71.91 crore, while domestic institutional investors purchased  <span class='webrupee'>₹</span>2,360.81 crore worth of stocks on November 29, provisional data from the National Stock Exchange showed.

8/9Foreign institutional investors bought shares worth 71.91 crore, while domestic institutional investors purchased 2,360.81 crore worth of stocks on November 29, provisional data from the National Stock Exchange showed.

Gold steadied near its highest in about seven months on Wednesday as expectations that the US. Federal Reserve may cut interest rates by the first half of next year boosted the outlook for zero-yield precious metal. Spot gold was up 0.1 percent to $2,043.58 per ounce, after hitting its highest since May 5. US gold futures rose 0.3 percent $2,044.90.

9/9Gold steadied near its highest in about seven months on Wednesday as expectations that the US. Federal Reserve may cut interest rates by the first half of next year boosted the outlook for zero-yield precious metal. Spot gold was up 0.1 percent to $2,043.58 per ounce, after hitting its highest since May 5. US gold futures rose 0.3 percent $2,044.90.

OTHER GALLERIES
Recommended For You
Switch to the Mint app for fast and personalized news - Get App