Nifty Auto Index added 1 percent supported by the Tata Motors, Bharat Forge, M&M
SpiceJet enters into settlement agreement with Boeing
SpiceJet has entered into a settlement agreement with Boeing wherein Boeing has agreed to provide certain accommodations and settle the outstanding claims related to the grounding of 737 MAX aircraft and its return to service, company said in its release.
This paves the way for the induction of efficient and younger MAX aircraft into SpiceJet’s fleet and ensures the resumption of new aircraft deliveries from our order of 155 MAX aircraft, it added.
SpiceJet was quoting at Rs 77.45, down Rs 0.65, or 0.83 percent on the BSE.
PE, VC investments touch all-time high of $12.9 billion in October: Report
Private equity (PE) and venture capital (VC) investments touched an all-time high of $12.9 billion in October, on the back of high-value deals, a report said on November 16. The investments were 71 per cent higher as compared with October 2020’s $7.5 billion and 2.5 times the $5.2 billion value recorded in September this year, the report by consultancy firm EY and industry lobby IVCA said.
By the number of transactions, the 127 deals in October were higher than the 92 in last October but lower when compared with September’s 134.
RBI likely to hike rates next year: Morgan Stanley
Maintaining a constructive view on the Indian economy, Morgan Stanley expects a full-fledged growth recovery with all drivers firing, LiveMint reported on November 16. According to Morgan Stanley economists Upasana Chachra and Bani Gambhir, the consumption recovery is most likely to pick up pace from the first quarter of FY22 and private capital expenditure recovery to follow in H22.
Among other things, the economists expect inflation to be sticky around the 5 percent mark in 2022, which is likely to remain within the RBI’s target band of 2-6 percent.
Dollar Updates:
The dollar reached a four-and-a-half-year high against the yen on Wednesday after better-than-expected U.S. retail data, which also boosted Wall Street equities, although Asian shares failed to follow suit.
MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.45% edging off Tuesday’s near three-week closing high, with declines in most markets, while Japan’s Nikkei lost 0.4%.
The dollar reached a high of 114.97 yen in early Asian hours, its strongest since March 2017, while the euro languished at a 16-month low at $1.1320.
Gainers and Losers on the BSE Sensex in the early trade:
Market Opens: Indian indices opened lower on November 17 with Nifty below 17950 amid mixed global cues.
At 09:16 IST, the Sensex was down 242.60 points or 0.40% at 60079.77, and the Nifty was down 71.90 points or 0.40% at 17927.30. About 831 shares have advanced, 632 shares declined, and 120 shares are unchanged.
Asian Paints, Eicher Motors, SBI Life Insurance, Tata Motors and Tata Consumer Products were among major gainers on the Nifty, while losers were UPL, Reliance Industries, Axis Bank, HDFC and Cipla.
Top 10 Things To Know Before The Market Opens
On Tuesday, the BSE Sensex dropped 396.34 points to 60,322.37, while the Nifty50 closed tad below crucial 18,000 mark, falling 110.30 points to 17,999.20, and formed bearish candle on the daily charts. According to pivot charts, the key support levels for the Nifty are placed at 17,927.77, followed by 17,856.33. If the index moves up, the key resistance levels to watch out for are 18,101.66 and 18,204.13.
ICICI Direct
Indian markets are likely to open on a negative note tracking weak Asian cues after robust US economic data lifted Wall Street shares, treasury yields and the dollar and spurred more calls for tighter monetary policy.
US markets ended higher amid release of macroeconomic data.
Market at pre-open: Benchmark indices are trading lower in the pre-opening session with Nifty below 18000.
At 09:02 IST, the Sensex was down 226.08 points or 0.37% at 60096.29, and the Nifty was down 65.60 points or 0.36% at 17933.60.
Mohit Nigam, Head – PMS, Hem Securities:
After Tuesday’s volatile session, benchmark indices are expected to open on a negative note as suggested by the trends on SGX Nifty. US markets closed with a positive note and European markets ended on a flattish note.
On technical front, the key resistance level for Nifty50 are 18,100 followed by 18,200 and on the downside 17,850 followed by 17,800 can act as strong support.
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 560.67 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 577.34 crore in the Indian equity market on November 16, as per provisional data available on the NSE.
