“WTI Dec fall sharply close to 2% to trade around $85.10 on Monday as the global risk off sentiments is higher due to the middle east concerns however armed conflict remain limited to Israel and Gaza. Several countries, including many Arab states, have urged Israel to delay a planned ground invasion that would multiply civilian casualties and might ignite a wider conflict. WTI December crude oil could fall back to $82-$80 in coming sessions and resistance remains $88, crude will continue to hold risk premiums due to the Israel -Gaza conflict but overall, we see prices retreating back,” said Mohammed Imran, Research Analyst at Sharekhan by BNP Paribas.

Adani Green Energy on Monday posted second quarter profit at Rs 371 crore, up 149% as against Rs 149 crore during the corresponding quarter of last year. It posted revenue from operations at Rs 2220 crore, up 40.2% in comparison to Rs 1584 crore during the second quarter of FY23. The company’s EBITDA stood at Rs 1699 crore, up 96.2% on-year. 

“USDINR CMP- 83.2650 (spot) Indian Rupee traded on a flat note with a slight negative bias on strong US Dollar and selling pressure from FIIs. We expect Rupee to trade with a slight negative bias on geopolitical uncertainty in the Middle East which may lead to safe haven demand for US Dollar. Month end Dollar demand from importers and OMCs and weak global market sentiments may weigh on the domestic currency. However, weak crude oil prices and any intervention by the RBI may support Rupee at lower levels. Investors may remain cautious ahead of FOMC meeting later this week. USDINR spot price is expected to trade in a range of Rs 83 to Rs 83.60,” said Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas.

The Nifty Auto index slipped 0.87% during the intra-day trade on Monday. Tata Motors, Maruti Suzuki India, Eicher Motors, Sona BLW Precision and Bosch led the losses and tanked over 1% each.

Reliance Industries, HDFC Bank, Maruti Suzuki India and Tata Motors are among the most active stocks on the NSE.

(Photo: NSE)

The Nifty Realty index surged 1.77% during the intra-day trade on Monday. Swan Energy led the gains and soared over 6%, while DLF and Macrotech Developers surged over 3% each.

(Source: NSE)

Medicamen Biotech, Jayant Agro Organics, Rane Holdings, Mahindra & Mahindra Financial Services, Par Drugs & Chemicals, Mahamaya Steel Industries and SBI Cards & Payment Services are among the volume gainers on the NSE.

Tata Motors, Maruti Suzuki India, Mahindra & Mahindra, Eicher Motors and Axis Bank are the top losers on the NSE Nifty 50.

BPCL, Reliance Industries, Cipla, Bharti Airtel and SBI Life Insurance Company are the top gainers on the NSE Nifty 50.

L&T Construction on Monday announced that its Power Transmission & Distribution business has secured key orders in India and overseas, during the current quarter. In Chhattisgarh, the business has received an order for establishing 400kV & 220kV transmission lines to help relieve the congestion in the state’s electricity transmission grid.

“COMEX Gold prices saw the third consecutive weekly gain, but was more or less consolidating near the psychological $2,000 per troy ounce levels during the previous week, as Israel held-off the imminent ground invasion on Gaza, while robust economic data from US boosted the greenback. Israel stepped up the activities in Gaza strip over the weekend, though adopting a cautious approach and is expected to launch a full scale ground invasion soon. Gold prices continue to enjoy higher war premium, ahead of the US Labour data and FOMC meeting this week, where Fed is expected to keep rates unchanged,” said Ravindra Rao, CMT, EPAT, VP – Head Commodity Research, Kotak Securities.

HSBC Holdings reported on Monday a 240% increase in third-quarter pre-tax profit as higher interest rates boosted the bank’s profitability and helped it fund a fresh $3 billion share buyback, reported Reuters. The results from Europe’s biggest bank showed the pressure it is under to deliver to long-suffering investors now that interest rates worldwide are rising, as its profit more than doubling in the third quarter nonetheless missed analysts’ expectations because of higher costs.

(Source: NSE)

Nifty weekly contract has highest open interest at 19,200 for Calls and 19,000 for Puts while monthly contracts have highest open interest at 19,000 for Calls and 19,000 for Puts. Highest new OI addition was seen at 19,200 for Calls and 19,000 for Puts in weekly and at 19,600 for Calls and 18,500 for Puts in monthly contracts. FIIs increased their future index long position holdings by 17.91%, increased future index shorts by 2.61% and in index options by 17.20% in Call longs, 18.34% in Call short, 13.16% in Put longs and 52.45% in Put shorts,” said Anand James, Chief Market Strategist at Geojit Financial Services.

“The oversold position in the market facilitated the 190 point bounce back in the Nifty on Friday. But the conditions are not favourable for the continuation of this uptrend since the risk-off mood persists in the market. The risk of the Middle East geopolitical crisis spreading is high and since the ground war has begun in Gaza there can be lots of uncertainty and unexpected developments.The other major factor impacting the markets -the elevated US bond yields- also will remain a short term concern since the Fed is likely to continue its hawkish stance in the light of the resilience of the US economy and inflation (3.7%) remaining above the Fed’s target. So watch out for the Fed’s message on November 1st even while it holds the rate as the market expects.Investors may remain cautious in this time of high uncertainty and risk. Nibbling at high quality large-caps will be a smart move,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

“Bank Nifty recovered from the previous day’s low of 42,100 zone gaining 500 points to witness a significant bounce to close near the 42,800 zone improving the sentiment to some extent. The index needs to breach above the 43,400 zone for confirmation of trend reversal and expect for further upward move in the coming

days. Bank Nifty would have the daily range of 42,400-43,300 levels,” said Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher.

Come from Sports betting site

The NSE Nifty 50 opened at 19,053.40 up marginally 0.03%, while the BSE Sensex opened at 63,885.56 up 102.76 points.

“The USD/INR 28 November futures contract exhibited stability during the past week. Analyzing the weekly technical chart, we can see that the pair is currently trading above its moving average trend-line support level of 83.15, and RSI is above the 60-level mark. While the technical setup appears promising with the MACD indicating positive divergence, the pair is encountering substantial resistance at higher levels. Based on the weekly technical chart, it’s evident that the pair has a support range between 83.15 and 82.92, while resistance is established at 83.50-83.70. To demonstrate further strength and move towards the levels of 83.45-83.60, the pair must sustain itself above the 83.30 mark; otherwise, it may retest its support levelsCome from Sports betting site VPbet. Our projection is that the pair is likely to trade within the range of 83.15-83.50 during today’s session,” said Rahul Kalantri, VP Commodities, Mehta Equities.

“Last week, Nifty fell by 2.53% on Dalal Street, causing concern for bullish investors amid a sharp market decline. As the new trading week unfolds, Nifty appears susceptible, influenced by the S&P 500’s correction territory entry alongside the Nasdaq Composite index. The suggested trade strategy involves selling Nifty within 19,100-19,150, setting a stop at 19,321 with targets at 18,927/18,800. Bank Nifty is recommended to sell within 43,000-43,100, with a stop at 43,891 and targets at 42,481/41,500. Notably, FIIs selling over Rs. 28,369 crores in October remains a significant negative catalyst. Nifty’s options data points to a likely trading range of 18,500-19,500, with 19,500 as a key resistance. The Volatility index is presently at 10.91. Key events this week include the FOMC outcome, October’s Auto Sales data, US non-farm payroll data, and ongoing tensions in the Middle East,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.

RIL, Dr Reddy’s Labs, UltraTech Cement, NTPC, IDFC First Bank and Macrotech Developers are among the top stocks to watch during today’s trading session.

Foreign institutional investors (FII) offloaded shares worth net Rs 1,500.13 crore, while domestic institutional investors (DII) added shares worth net Rs 313.69 crore on October 27, 2023, according to the provisional data available on the NSE.

WTI crude prices are trading at $84.91 down 0.7%, while Brent crude prices are trading at $89.92 down 0.62%, on Monday morning.

US stocks closed mostly lower on Friday, losing momentum as investors digested a hectic week of mixed earnings, and economic data that seemed to support the ‘higher for longer’ interest rate scenario, reported Reuters. 

The tech-heavy Nasdaq Composite gained 47.41 points or 0.38% at 12,643.01. The S&P dropped 19.86 points or 0.48% at 4,117.37, while the Dow Jones Industrial Average tumbled 366.71 points or 1.12% to 32,417.59.