On Friday, November 14, equity benchmark indices — the Sensex and Nifty 50 — are expected to open lower, following a sell-off in global markets, led by losses in technology and AI stocks. Volatility is likely to be elevated in the domestic markets amid the Bihar assembly results, scheduled to be declared today.
Trends on the GIFT Nifty indicate a negative start, with the index trading 79 points lower at 25,844 around 7:16 AM.
In early Asian trade, Asian markets traded lower, while the US stock market slumped overnight, with all three major US stock indexes posting their steepest daily percentage declines in over a month.
Bihar Assembly election results will be declared today as the counting for all 243 Assembly seats will begin shortly.
Bihar elections were conducted in two phases, on November 6 and 11, recording one of its highest-ever turnouts. Most exit polls predicted a win for the ruling NDA.
Tata Motors Passenger Vehicles, Siemens, Max Healthcare Institute, Marico, Oil India, MRF, Glenmark Pharma, Narayana Hrudayalaya, Exide Industries, Inox Wind, KIOCL, Sun TV Network, will announce their Q2FY26 earnings on November 14.
On Thursday, November 13, Foreign Institutional Investors (FIIs) were net sellers, selling equities worth ₹383.68 crore. Domestic Institutional Investors (DIIs) continued their positive stance, buying equities worth ₹3,091.87 crore, marking their 15th consecutive session of net inflows.
Indian equity benchmarks ended slightly higher on Thursday, November 13, extending gains for the fourth straight session. The Nifty 50 closed up 3.35 points at 25,879.15, while the Sensex added 12.16 points to finish at 84,478.67. Sentiment stayed supported as President Trump signed legislation ending the longest US government shutdown, reducing uncertainty around upcoming US economic data, and strengthening expectations of a December rate cut.
Among sectors, five of the eleven major indices advanced, with Realty, Metal, Financial Services, Banking, and Pharma posting gains. The Nifty IT Index declined 0.48%, snapping its three-day winning run. Broader markets underperformed the benchmarks, as both the Nifty Midcap 100 and Nifty Smallcap 100 ended in the red.
Wall Street major indices logged their weakest session in a month, as investors booked profits following the end of the longest government shutdown in history.
All three major US stock indices recorded their sharpest single-day percentage drop in over a month.
The S&P 500 slid 1.66% to close at 6,737.49, the Nasdaq dropped 2.29% to 22,870.36, and the Dow Jones Industrial Average fell 1.65% to finish at 47,457.22.
Wall Street fell sharply on Thursday as investors reduced expectations of near-term rate cuts due to rising inflation concerns and mixed signals from Federal Reserve officials. Odds for a December rate cut slipped to about 50%, with policymakers highlighting sticky inflation and a steady labour market despite two earlier cuts.
Meanwhile, the US Dollar Index pulled back toward 99, and gold stayed firm near $4,200 per ounce even as hopes of further Fed easing weakened.
New filings for unemployment benefits in the US slipped slightly last week. Initial state jobless claims came in at a seasonally adjusted 227,543 for the week ending November 8, compared with 228,899 recorded a week earlier, according to data compiled by Haver Analytics.
Mary Daly, President of the Federal Reserve Bank of San Francisco, remarked that it is still early to determine whether interest rates should be reduced at the December meeting. She noted that policymakers have not ruled out either possibility, saying the policy stance presently appears “neutral.”
Gold prices moved up as the dollar weakened. Spot gold was up 0.3% at $4,183 per ounce after slipping 0.6% in the previous session, which ended its four-day rise.
The US dollar was set for a weekly decline, with the currency index hovering near a two-week low at 99.27. The dollar index indicated a 0.3% weekly drop.
Disclaimer: The article is for informational purposes only and not investment advice.
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