GIFT Nifty:

The GIFT Nifty November futures contract is trading 54 points higher, suggesting a positive opening for the Nifty 50.

Institutional Flows:

Foreign portfolio investors (FPIs) sold shares worth Rs 1,403.40 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,330.56 crore in the Indian equity market on 18 November 2024, provisional data showed.

According to NSDL data, FPIs have sold shares worth over Rs 33875.10 crore (so far) in the secondary market during November 2024. This follows their sale of shares worth Rs 1,13,858.81 crore in October 2024.

Global Markets:

Asian stocks climbed on Tuesday as investors awaited key cabinet appointments from the incoming Trump administration. Meanwhile, market participants monitored shifts in US Federal Reserve policy expectations.

The probability of a rate cut at the December Fed meeting has decreased in recent days, as resilient economic data and potential inflationary pressures from the new administration’s policies could limit the scope for easing.

US stocks closed mixed on Monday. While the Dow Jones Industrial Average slipped 0.13%, the S&P 500 gained 0.39%, and the Nasdaq Composite Index rose by 0.60%.

Tesla shares surged over 5% following reports of the incoming administration's focus on autonomous vehicle development. NVIDIA stock closed 1% lower amidst reports of overheating issues with its upcoming AI chips, ahead of its third-quarter earnings report on Wednesday.

The upcoming week's US economic calendar is relatively light, with the key focus being the manufacturing and service sector PMI data due out on Friday. The National Association of Homebuilder's reported its housing market index for November rose to a reading of 46 versus 43 last month.

Domestic Market:

Domestic equity benchmarks continued their downward spiral on Monday, marking their seventh consecutive session of losses. The Nifty index closed below the 24,500 level, despite a brief surge to 23,606.80 earlier in the day. The sharp decline was primarily driven by a sell-off in IT and energy stocks. However, metals and FMCG sectors managed to buck the negative trend.

The barometer index, the S&P BSE Sensex declined 241.30 points or 0.31% to 77,339.01. The Nifty 50 index lost 78.90 points or 0.34% to 23,453.80. The 50-unit index dropped 4.21% in seven consecutive trading sessions.