10 things to know before you make your opening trade on November 22

The Indian market ended the day’s session on a negative note on Thursday with the S&P BSE Sensex and Nifty each ending around 0.7 per cent lower, led by metals and auto stocks.  

On the weekly expiry day, the index opened on a negative note and traded with negative bias throughout the sessions, and closed the session at 17764.80 levels with a loss of 133 points. While bank nifty closed the session at 37976.25 level with a loss of 65.30 points.   

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On the sectoral front, all closed on a red note while the Nifty Auto and Metal were the top losers. Stocks like SBI, Power Grid, IOC, HDFC Bank and Reliance were the top gainers while Tata Motors, Tech Mahindra, M&M, L&T and HCL Tech were the prime laggards.   

Technically, the index has given a breakdown of the rising trend line and given closing below 50 DMA, which suggests weakness for the next trading sessions.   

“From the last four trading sessions, the index has been trading with lower highs & lower lows, which points out some corrections for the next trading session. However, the Index has taken support from the lower band of Bollinger, breaching below can show further downside,” Palak Kothari, Research Associate at Choice Broking said on in post market note on Thursday.  

“Furthermore, the index has given closing below 21 DMA as well as the Stochastic & MACD indicator is trading negative crossover, which points to weakness in the counter for the next trading sessions. At present, the index has a support level of 17650, while resistance is at 18000 levels, she added.  

Stay tuned to Zeebiz.com to find out what could impact your trade today. We have collated a list of top 10 news points which could impact markets, companies, or economy:    

Global Markets:  

The Wall Street indices closed mixed on Friday as Dow Jones and S&P 500 closed negative, while Nasdaq Composite gained 0.4%.  Dow Jones shed 269 points to 35,601, Nasdaq gained 64 points to 16,057 and S&P 500 lost 7 points to settle at 4,697.  

Asian Markets:  

Asian markets largely traded in the negative or flat around 7.15 am. Japanese Nikkei was down 0.32% or 93.71 to 29,652, Hang Sang Index at Hong Exchange was down 19 points o 25,040 and Shanghai Composite traded 13 points lower to 3573. 

SGX Nifty:  

SGX Nifty Futures was trading 37 points higher to 17,741.00 around 7.25 pm IST, hinting at positive opening for the Indian markets.   

Oil hovers above six-week low   

Oil prices rose slightly on Thursday after dropping to six-week lows as investors wondered about how much crude major economies would release from their strategic reserves and how much that would ease global crude demand pressures.  

Prices fell to six-week lows early in the session as China said it was moving to tap reserves. On Wednesday, Reuters reported that the United States was asking large consuming nations to consider a stockpile release to lower prices.  

Washington`s bid to cool markets, asking China to join a coordinated action for the first time, comes as high gasoline prices and other inflationary pressures have sparked a political backlash.   

Govt puts MTNL, BSNL assets on sale   

The government has listed for sale real estate assets of state-run telecom firms MTNL and BSNL at a reserve price of about Rs 970 crore, according to documents uploaded on the DIPAM website.  

BSNL properties located in Hyderabad, Chandigarh, Bhavnagar and Kolkata have been posted for sale at a reserve price of about Rs 660 crore.  

The Department of Investment and Public Asset Management (DIPAM) website has listed MTNL assets located in Vasari Hill, Goregaon in Mumbai for sale at a reserve price of about Rs 310 crore.  

FPIs pump in Rs 19,712 cr in markets in Nov so far  

Foreign portfolio investors (FPI) were net buyers in the Indian markets at Rs 19,712 crore in November so far.  

As per depositories' data, they invested Rs 14,051 crore into equities and Rs 5,661 crore in debt segment between November 1-18.  

This translated into total net investment of Rs 19,712 crore during the period under review. In October, FPIs remained net sellers at Rs 12,437 crore.  

EPFO empowers FIAC to take call on investment in new instruments  

Retirement fund manager EPFO on Saturday decided to empower its advisory body Finance Investment and Audit Committee (FIAC) to take a call on investing in new asset classes like InvITs.  

At present, the National Highways Authority of India (NHAI) and Power Grid Corporation (PGCIL) have launched public sector infrastructure investment trusts (InvITs). The EPFO would also go for public sector bonds.  

The decision was taken at the 229th meeting of the Employees’ Provident Fund Organisation’s apex decision making body — Central Board of Trustees (CBT), headed by Union Labour Minister Bhupender Yadav.  

US Fed Governor urges faster pace of tapering as inflation surges 

US Federal Reserve Governor Christopher Waller has urged the central bank to speed up the pace of tapering asset purchases in response to the surging inflation.  

"To me, the inflation data are starting to look a lot more like a big snowfall that will stay on the ground for a while, and that development is affecting my expectations of the level of monetary accommodation that is needed going forward," Waller said in an address at the Center for Financial Stability in New York.  

"The timing of any policy action is a decision for the FOMC (Federal Open Market Committee), but for my part the rapid improvement in the labour market and the deteriorating inflation data have pushed me towards favouring a faster pace of tapering and a more rapid removal of accommodation in 2022," he said, referring to the Fed`s policy-making committee.  

Waller pushed back the argument that monetary policy does not need to respond to temporary price pressures connected to supply constraints.  

Govt to exceed FY22 tax collection target  

With the net direct tax collection till October closing in on Rs 6 lakh crore and average monthly GST mop-up likely around Rs 1.15 lakh crore this fiscal, the government's tax collection kitty will surpass budget estimates this financial year, Revenue Secretary Tarun Bajaj said.  

In an interview with PTI, Bajaj said the relief in excise duty on petrol and diesel and customs duty on edible oil will cost the exchequer about Rs 80,000 crore this financial year, and the revenue department will start calculating the tax mop-up position vis-a-vis budget estimates for this fiscal after the December advance tax number.  

"After refunds also, we have touched almost Rs 6 lakh crore till October in direct taxes... It is looking good. Hopefully, we should exceed it.  

FII & DII Data:  

Foreign portfolio investors (FPIs) remained net sellers for Rs 3930.62 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 1885.66 crore, provisional data showed on the NSE.  

Stocks under F&O ban on NSE    

Six stocks: BHEL, Escorts, Idea, Sun TV, SAIL, and National Aluminium have been placed under the F&O ban on Monday. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.  

(With inputs from PTI, Reuters and other agencies)  

(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)