GIFT Nifty down 11 points: Asian markets, crude oil prices, dollar movement & more

Domestic stock indices are likely to open on a flat note on Friday amid muted global cues. Asian markets were down in the early trade, as US stock exchanges were shut overnight due to a public holiday. The US dollar took a breather while crude prices were flattish. Back home, all eyes will be on the action-packed primary market where a number of IPOs are seen strong investor interest. Here's what you should know before the opening bell:

Nifty outlook
Jatin Gedia of Sharekhan said Nifty made an attempt to break above 19, 850 on the daily chart. The index structure is still positive and unless Nifty does not breach below 19,700, one can expect it to target 19,930 from a short-term perspective.

"Daily momentum indicator has a positive crossover which is a buy signal and hence intraday dips should be bought into. In terms of levels 19,850-19,875 is the immediate hurdle while 19,720-19,700 is the crucial support zone from a short-term perspective," he said.

Nifty Bank outlook
Sheersham Gupta of Rupeezy said Nifty Bank has been more bearish compared to Nifty for the past few days due to the RBI risk norm change. "It found support at the 200-DMA yesterday. The bulls will have to cross the next resistance of 43,800 to gain control or else the index may continue its downward march," he said.

GIFT Nifty signals a negative start
Nifty futures on the NSE International Exchange traded 10.50 points, or 0.05 per cent, lower at 19,867.50, hinting at a negative start for the domestic market on Friday.

Asian stocks see flattish start
Asian shares were flattish on Friday morning amid a lack of guidance from Wall Street, which was closed overnight for a holiday. The MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.51 per cent. Japan's Nikkei jumped0.82 per cent; Australia's ASX 200 gained 0.39 per cent; New Zealand's DJ rose 0.22 per cent; China's Shanghai shed 0.29 per cent; Hong Kong's Hang Seng tanked 1.57 per cent; South Korea's Kospi declined 0.31 per cent.

Oil prices mixed after recent fall
Oil prices were mixed after tumbling more than 1 per cent on concerns over the delayed OPEC+ meeting. Brent crude futures were up 0.3 per cent at $81.69 a barrel while US West Texas Intermediate crude fell 0.6 per cent to $76.65 a barrel.

Dollar turns defensive
The dollar was restrained on Friday by uncertainty over the path of US interest rates, while the euro held overnight gains as data hinted that the downturn in the euro zone may be easing. The dollar index eased 0.029 per cent to 103.73. The euro stood at $1.0904. Sterling was last at $1.2539, up 0.05 per cent on the day. The Japanese yen strengthened 0.04 per cent to 149.49 per dollar

Wall Street stocks to resume trade today

US stocks will resume trade on Friday after stock indices there observed Thanksgiving holiday overnight. Key US indices ended higher on Wednesday on optimism that the Federal Reserve may be done raising interest rates and that the economy is still resilient. Globally, world equity markets added to their best month since the COVID vaccine breakthroughs of late 2020 on Thursday as Europe digested another far-right election shock and oil skidded after OPEC+ postponed its weekend meeting.

Stocks in F&O ban
11 stocks have been put under the F&O segment ban by the National Stock Exchange (NSE) for Tuesday, November 21. The new addition namely- Balrampur Chini Mills and Hindustan Petroleum Corporation- will join the existing retentions including Chambal Fertilisers and Chemicals, Indiabulls Housing Finance, India Cements, Manappuram Finance, Delta Corp, RBL Bank, Hindustan Copper, MCX india and Zee Entertainment India. Companies where derivative contracts cross 95 per cent of the market-wide position limit are put under ban in the F&O segment.

FPIs buy worth Rs 256 crore
Provisional data available with NSE suggest that FPIs were net buyers of domestic stocks to the tune of 255.53 crore on Thursday. On the other hand, domestic institutional investors (DIIs) turned net sellers of Indian equities to the tune of Rs 457.39 crore.

Rupee falls 2 paise against dollar
The rupee slipped by 2 paise to settle at 83.34 (provisional) against the US dollar on Thursday due to FII outflows and weak local equities. Oil prices sliding more than 1 per cent and the US currency trading lower against its major global rivals restricted the rupee's fall, forex dealers said.


Note: With inputs from PTI, Reuters and other agencies

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