On Tuesday, November 18, equity benchmark indices — the Sensex and Nifty 50 — are expected to open with a negative bias, following weakness in global markets.
Trends on the GIFT Nifty indicate a negative start, with the index trading 25 points lower at 26,005 around 7:05 AM.
The initial stage of the India–US bilateral trade agreement is close to being finalised. According to a government official quoted by PTI, this phase is expected to address the 50% tariffs placed on Indian products during the Trump administration and also tackle the US concerns regarding market access.
In other news, India’s unemployment rate for individuals remained unchanged at 5.2% in October. Rural unemployment eased slightly from 4.6% to 4.4%, while urban unemployment rose marginally from 6.8% to 7%, balancing out the overall rate.
India’s exports fell 11.8% to $34.38 billion in October, largely due to the impact of higher US tariffs. At the same time, imports surged 16.63% to a record $76.06 billion, driven by increased purchases of gold, silver, fertilisers, cotton raw/waste, and sulphur. As a result, the trade deficit expanded to an unprecedented $41.68 billion.
In early Asian trade, the majority of Asian markets traded lower, while the US stock market ended lower overnight, amid a sell-off in technology stocks.
On Monday, November 17, Foreign Institutional Investors (FIIs) were net buyers, buying equities worth ₹442.17 crore. Domestic Institutional Investors (DIIs) continued their positive stance, buying equities worth ₹1,465.86 crore, marking their 17th consecutive session of net inflows.
Indian equity markets extended their winning run for the sixth straight session on Monday, November 17, closing higher on strong support from financial stocks. The Nifty 50 rose 103.40 points (0.40%) to 26,013.45, while the Sensex gained 388.17 points (0.46%) to finish at 84,950.95. With both indices now just about 1% below their record highs, market sentiment improved as India VIX slipped nearly 1.5% to move below 12.
The RBI’s decision to offer a relief window for export-oriented sectors boosted confidence, helping banks and financials lead the rally. All key sectoral indices closed in the green, with the Nifty PSU Bank index rising over 1% and Bank Nifty hitting a fresh all-time high with a 0.76% gain. Broader markets outperformed the benchmarks as the Nifty Midcap 100 and Nifty Smallcap 100 also ended higher.
US markets closed sharply lower on Monday, with technology shares leading the decline ahead of Nvidia’s quarterly results and the long-pending US jobs data due this week.
The Dow Jones Industrial Average slipped 557.24 points, or 1.18%, to end at 46,590.24. The S&P 500 fell 61.70 points, or 0.92%, settling at 6,672.41. The Nasdaq Composite also ended weaker by 192.51 points, or 0.84%, finishing at 22,708.08.
In other developments, the UN Security Council approved a US-backed resolution supporting President Donald Trump’s proposal for ending the Gaza conflict and allowing the deployment of an international stabilisation force.
The yen dropped to its lowest level in over nine months as the dollar strengthened. The dollar index inched up 0.2% to 99.545.
Gold continued its downward trend for the fourth consecutive session, pressured by a stronger dollar and fading expectations of a Federal Reserve rate cut next month. Spot gold eased 0.1% to $4,038.43 per ounce, and December US gold futures fell 0.9% to $4,037.50 per ounce.
Oil prices remained steady as traders balanced concerns of a rising supply surplus with the impact of US sanctions on Russia. Brent crude slipped 0.37% to $63.96 per barrel, while WTI crude futures dipped 0.38% to $59.68.
Disclaimer: The article is for informational purposes only and not investment advice.
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