After so much selling will FIIs start buying?
Good Morning, Everyone, FIIs are continuing to sell for the past few weeks now, but one thing that we can see is that the intensity of selling by value has been reducing day by day, as you can see in the data given in the FII DII section below.
Today being Thursday (Weekly Expiry) we will continue to see Jittery moves in the market, however, we need to wait for the FIIs to start buying again to confirm a reversal.
As of now, the market looks bearish for the short term.
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On the daily chart, Nifty continues to make a bearish outlook.
Sector Watch:
Almost all sectors were down yesterday, the only sector to majorly support was the Auto Sector.
Top Gainers:
Asian paints were the top gainer after news of increasing prices hit the market, followed by auto stocks like Maruti & Tata motors.
Top Losers:
UPL, Reliance & Cipla saw major profit booking yesterday and was down more than 2%
Global Markets:
The US stock markets fell yesterday, The S&P 500 declined from a rising streak and now sitting below the level that it hit a week and a half ago. The Dow Jones Industrial Average and Nasdaq also fell.
The S&P 500 fell 12.23 points, or 0.3%, to 4,688.67.
The Dow Jones Industrial Average fell 211.17 points, or 0.6%, to 35,931.05.
The Nasdaq fell 52.28 points, or 0.3%, to 15,921.57.
The Russell 2000 index of smaller companies fell 28.02 points, or 1.2%, to 2,377.01.
Asia-Pacific shares traded mixed on Thursday, following overnight losses on Wall Street. Japan’s Nikkei 225 extended losses from the previous session, the benchmark index was down 0.43% while the Topix fell 0.28%.
Indian Market:
Trends on SGX Nifty indicate a cautious opening for the index in India with a 10-points loss.
Citing faster-than-expected recovery, rising consumer confidence and the resultant spending spike, Swiss brokerage UBS Securities has revised upwards its growth forecast for the current fiscal to 9.5 percent from 8.9 percent in September.
The investor charter that was proposed in the Union Budget 2021-2022 with the aim of protecting investors from the misselling of financial products, was released by the Securities and Exchange Board of India (SEBI) on November 17, 2021.
The charter has been published to protect the "interests of investors by enabling them to understand the risks involved and invest in a fair, transparent, secure market, and to get services in a timely and efficient manner".
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 344.35 crore, while domestic institutional investors (DIIs) net offloaded shares worth Rs 61.14 crore in the Indian equity market on November 17
Stock Specific News:
Paytm | Paytm operator One97 Communications will be listed on the exchanges today. The issue price was fixed at Rs 2,150 per share.
Sapphire Foods | KFC operator will make its debut on Dalal Street today. The issue price has been fixed at Rs 1,180 per share.
Zomato | Zomato UK, a step-down subsidiary of the company, has been dissolved effective from November 16, 2021. Separately, Zomato is reportedly in talks to invest as much as $500 million in Grofers.
Vedanta | The company will undertake a comprehensive review of the corporate structure. Vedanta says it is evaluating a full range of options and alternatives including demerger(s), spin-off(s), strategic partnerships for unlocking value and simplification of corporate structure.
Infosys | The company and Bloomberg Media announced a strategic collaboration to create the Bloomberg Digital Economy Index. Through the partnership, Infosys harnesses analytics and AI to integrate the Index experience on Bloomberg Media’s digital platforms and Bloomberg TV.
Camlin Fine Sciences | Through the company's newly incorporated wholly-owned subsidiary in Mexico, it has acquired 33.50 percent stake from the joint venture partner Controladora De Servicios Riso for a consideration of $8.50 million.
Kalpataru Power Transmission | ICICI Prudential Asset Management Company acquired 0.19 percent stake in the company through open market transactions on November 16, increasing shareholding to 5.18 percent from 4.99 percent earlier.
Jindal Drilling & Industries | The company has acquired an offshore jack-up rig 'Jindal Supreme' from Venus Drilling Pte. Ltd. for $16.75 million.
Phoenix Mills | CPP Investments has completed its first tranche of investment in Plutocrat Commercial Real Estate Private Ltd (PCREPL) on private placement basis and by way of secondary acquisition of equity shares held by the company in PCREPL aggregating to Rs787 crore.
Metropolis Healthcare | The company's promoter has sold 4.25 lakh shares or 0.83 percent stake on November 16.