Stock Market Today: GIFT Nifty signals muted start; Brent Crude at $95/bbl
Stock market today: GIFT Nifty signals a muted start as Brent crude trades near $95, Asian markets rise and US stocks close lower.
The GIFT Nifty was slightly lower in early trade on Friday, November 13, indicating a mildly negative start for Indian equities. The GIFT Nifty was down 26 points, or 0.10%, at 25,275 points.
Crude oil prices have risen slightly from the recent lows, and are currently trading just over $95 per barrel. Asian markets have opened higher this morning while US markets closed lower on Thursday,
On Thursday, the Sensex closed flat at 81,911.01 points and the Nifty ended 44.30 points higher, or 0.18%, at 25,299.35 points.
Asian markets were higher on Friday, November 13. South Korea’s Kospi gained 2.6% while the Kosdaq rose 2.4%. Japan’s Nikkei 225 rose 1.5% while the broader Topix gained 0.25%.
Australia’s S&P/ASX 200 fell 0.73%.
Crude oil prices were lower in early trading on Friday, with Brent crude oil hovering at $95.49 per barrel. The West Texas Intermediate crude oil futures were 0.5% lower at $88.49 per barrel.
US stock futures were higher on Friday morning, after major indices slumped and Nvidia fell sharply. S&P 500 futures rose 0.4% and Nasdaq-100 futures gained 0.6%. Dow Jones futures inched up 0.3% .
US stocks ended lower on Thursday, with the S&P 500 closing 0.35% lower at 7,592.40 points. The Nasdaq Composite dropped 0.4% to 25,366.09 points.
The Dow Jones Industrial Average shed 0.4% and ended at 52,297.09 points.
On Thursday, Nvidia CEO Jensen Huang stepped down from his post at the company following reports of multiple extramarital affairs, which triggered a 4.3% decline in the stock. Nvidia’s CFO Colette Kress will lead the company as the interim CEO.
The US Dollar Index (DXY) , which measures the value of the dollar against a basket of six foreign currencies, was trading at 103.16. The index evaluates the strength or weakness of the US dollar with major currencies.
The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, and others.
On November 12, the Indian rupee ended at 94.04 against the US dollar.
COMEX gold was slightly higher at around $3,892.30 per ounce in early trade on Friday, after dropping to an over one-year low.
The rate for 24-carat gold today in India is Rs 1,36,330 per 10 grams. The 18-carat gold price today in India is Rs 1,02,247.5 per 10 grams. The 24-carat gold rate in Dubai today is Rs 1,36,618.97.
COMEX silver was steady at $50.055 per ounce in early trade on Friday.
Silver prices in India were at Rs 179.24 per gram on Friday.
Foreign institutional investors bought equities worth Rs 7,830.60 crores on Thursday. Domestic institutional investors sold shares worth Rs 6,331.17 crores.
In Thursday’s trading session, the PSU Bank sector gained the most, ending 3.11% higher. This was followed by the shipbuilding sector, which closed 1.8% higher.
The restaurant sector was the worst hit, ending 2.1% lower.
In Thursday’s session, the Emami Group gained 4.64%, followed by the Aarti Group, which closed 3% higher.
The Patodia Group was the worst hit on Monday, ending 4.66% lower.
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