Index Trend & Conditions
Major Resistance created at 11,960 and 12,100 for Nifty50
For Monday, Oct 19, Support at 11,600 and 11,650 with Resistance at 11,960 for Nifty50
Trends on SGX Nifty indicate a positive outlook for Nifty50 in India with a 73 points jump. The Nifty futures were trading at 11,845 on the Singaporean Exchange at 08:00 IST
Dow Jones, S&P500 and Nasdaq futures trading in green, a positive Asia-Pacific early morning market and a strengthening dollar indicate a positive start with a muted bias for Indian benchmark indices
India Markets
| Nifty50 on Friday | Open 11,727 | High 11,789 | Low 11,667 | Close 11,762 |
Nifty50 added 82 points or 0.70% on Friday at 11,762, as investors paused after a sharp Thursday sell-off
Nifty50 has broken the support at 11,800 level, below which we can see corrective downswing towards 11,300
Both Metals and Realty stocks were at the vanguard of the rally while IT and FMCG stocks faltered the most
On the up side, crucial level or resistance is seen at 11,970 and 12,000 for Monday
While, on the downside, support is seen at two points 11,600 and 11,650 for Monday
The BSE Sensex index closed up 0.6% at 39,983 on Friday, after suffering the worst daily drop in three weeks on Thursday
For the week, the Sensex lost 1.3%, amid prospects of slower economic recovery, the lack of progress in US stimulus negotiations and new lockdowns in several European countries
Telecom index on the BSE remained unchanged at 997, falling almost 30% since its high on 08 June
Bank Nifty opened positive and closed near to 200-day EMA at 23,533 on a day’s scale. The index had previously formed a Bearish Engulfing pattern
India VIX moved down -1.87% from 22.0575 to 21.6450 level on Friday’s session
Broader markets made progress with the Midcap index rising 1.13%, while the smallcap index saw a gain of 1.33%
The overnight call money rate weighted average stood at 3.40% according to RBI data. It moved in a range of 1.80 – 3.85% as on Oct 15
US Private Equity firm Blackstone has signed non-binding agreement to buy Prestige Estate’s rent-yielding assets, including offices and operating malls, for $2 billion. Blackstone is the largest commercial real estate owner in India, with a total investment of around $7.8 billion as of March 2020
Americas
Wall Street closed mixed on Friday with the Dow rising after three consecutive drops, as economic data surpassed expectations but fiscal uncertainty lingers
Retail sales jumped 1.9% in September and soundly beat consensus estimates of 0.7%, while consumer confidence for October also came in better than expected
The Dow Jones added 112 points or 0.4% to 28,606
The Nasdaq lost 42 points or 0.4% to 11,672
The S&P 500 finished near the flat line at 3,484
Russel 1000 Index dropped -0.03%, touching 1,947
Canada’s S&P/TSX Composite Index dropped 62 points or -0.38% to 16,438
On the corporate side, Boeing shares outperformed after the European Union Aviation Safety Agency said the 737 Max jet was safe to fly again
Asia-Pacific Markets
The Nikkei 225 dropped 97 points or 0.41% to 23,410 on Friday
Topix 500 dropped nearly 11 points or -0.86% to 1,248 on Friday
Investors retreated after Finance Minister Taro Aso brushed aside calls for a big extra stimulus budget, saying the situation was different from earlier this year when massive fiscal support was needed amid a state of emergency
South Korea’s Kospi dropped 20 points or -0.83% at 2,341 on Friday
In Hong Kong, the Hang Seng Index added 228 points or 0.9% to 24,386 on Friday
China’s CSI 300 Index dropped 7 points or -0.15% to 4,791 on Friday
Hang Seng China Enterprises Index added 152 points or 1.56% at 9,914 on Friday
The Shanghai Composite added 4.18 points or 0.13% to 3336.36 on Friday, gaining 2% for the week. Investors cheered news that Beijing is set to pass a new law that would restrict sensitive exports vital to national security, expanding its toolkit of policy options as competition grows with the US over access to technologies
Next week, China’s statistics bureau will release third-quarter economic data. China’s growth is expected to accelerate to 5.4% in Q3 from 3.2% in Q2
The ASX 200 fell 34 points or 0.5% to 6177 on Friday, retreating from 7-month highs in the previous session
Risk sentiment waned after the IMF panel warned of permanent damage to the economy unless countries are given further economic support
Singapore’s Straits Times Index added 9 points or 0.37% to 2,533
Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan, is down -0.20%
Despite the US headwinds, Jack Ma’s Ant is moving ahead with what could be the world’s largest IPO, with same-day listings in Hong Kong and Shanghai, the people said. At $280 billion, Ant would be bigger than Bank of America Corp. and three times the size of Citigroup Inc., while its sale would top Saudi Aramco’s record $29 billion raise
EU Markets
Stock markets across Europe recorded their best session in nearly three weeks on Friday, recovering from a steep sell-off in the previous day, after Pfizer said it expects to provide safety data and file for authorization of its COVID-19 vaccine as soon as November
The pan-European Stoxx 600 index added 1.41% at 366
Stoxx 50 added 1.65% to close at 3,245
Germany’s DAX30 added 205 points or 1.62% at 12,909 on Friday
London’s FTSE 100 added 87 points or 1.49% to close at 5,919 on Friday
France’s CAC40 added 98 points, or 2.03% to end at 4,936
Denmark’s OMX Copenhagen 20 Index added 9 points or 0.65% at 1,417
Luxembourg’s LuxX Index added 11 points or 1.07% at 1,068
Sweden’s OMX Stockholm 30 Index added 22 points or 1.23% at 1,835
Italy’s FTSE MIB Index added 324 points or 1.70% at 19,390
Brexit talks ended without any signs of a trade agreement, with British PM Johnson urging the UK to prepare for no deal and EU Commission president Ursula von der Leyen saying that negotiations would continue next week
On the corporate front, stronger than expected earnings results from Daimler and Volvo helped auto stocks
Oil & Natural Gas Markets
WTI crude futures fell 0.5% to settle at $40.7 per barrel on Friday
Brent crude futures lost around 0.9% to settle at $42.8 a barrel on Friday, as concerns about fuel demand recovery mounted due to a resurgence in coronavirus infections in the US and Europe
Natural gas was set for a 2.2% rise during the last week to $2.8/MMBt, the fourth consecutive weekly gain
A panel of officials from OPEC+, called the Joint Technical Committee, will be meeting on Monday to discuss the 2021 outlook
Major oil producers are worried about the negative impact of a prolonged second wave of the pandemic and a jump in Libyan output on the oil market
Gold & Silver Markets
Spot gold settled just below $1,900 an ounce on Friday, booking a 1.6% weekly loss, its first decline in three weeks
Stricter lockdown measures across Europe and a disappointing jobless claims report in the US pushed up the dollar, making gold more expensive
US Gold futures (Comex) weakened to $1,906 an ounce
Silver futures (Comex) strengthened to $24.41 an ounce
In India, Spot Gold weakened to INR 49,818 per 10 grams
India – NCDEX Agridex
Agricultural futures index tracking the performance of the 10 liquid commodities, was up 0.34% trading at 1,160.60 ; with major gains in Soy Bean and Cotton Seed Oilcake futures on Friday
Currency Markets
The dollar index weakened slightly to trade around 93.7 on Friday
Mounting coronavirus infections and further restrictions in Europe, Brexit worries, and an attempt from the PBoC to depreciate the yuan continue to pressure the dollar up
INR strengthened 0.05% with USD-INR at 73.3462
JPY strengthened 0.05% with USD-JPY at 105.4000
CNY strengthened 0.41% with USD-CNY at 6.6976
EUR strengthened 0.09% with EUR-USD at 1.1718
GBP strengthened 0.05% with GBP-USD at 1.2915
SEK strengthened 0.29% with USD-SEK at 8.8485
Bond Markets
Americas : 10-Year Govt Bond Yields
United States : Down 1 basis point at 0.74%
Canada : Flat at 0.57%
Europe, Middle East & Africa : 10-Year Govt Bond Yields
Germany : Down 1 basis point at -0.62%
United Kingdom : Flat at 0.18%
France : Down 1 basis point at -0.35%
Netherlands : Down 1 basis point at -0.52%
Asia Pacific : 10-Year Govt Bond Yields
India : Up 3 basis points at 5.93%
Japan : Flat at 0.01%
Australia : Down 4 basis points at 0.72%
Hong Kong : Flat at 0.38%
Singapore : Up 1 basis point at 0.86%
South Korea : Up 2 basis points at 1.48%
Fund Flows on NSE, BSE and MSEI – Oct 16, 2020 (source NSE)
FII Net Sell Rs 479.59 Cr in Cash Market
DII Net Sell Rs 429.81 Cr in Cash Market
