MARKETS LIVE: Things you must know before the trading week begins

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SI Reporter  |  New Delhi 

A host of factors such as crude oil prices, macroeconomic data (GDP, fiscal deficit and core sector growth), expiry of the futures and options contracts for November series, rupee and trends in global markets are likely to impact investor sentiment this week.

That apart, investors will keep a tab on the G20 meeting proceedings this week, where US President Donald Trump will meet his Chinese counterpart Xi Jinping in Buenos Aires.

Amid stock specific action, HUDCO is likely to release its September quarter earnings later in the day today. Also, HCL Technologies and Bajaj Finance are expected to replace Wipro and Adani Ports in the BSE Sensex effective from December 24, 2018.

“Markets are likely to remain under pressure thus traders should continue with sell-on-rise approach. Nifty failed to surpass the crucial hurdle at 10,800 and now it may find support around 10,350. Stocks are also seeing excessive volatility, adding to participants worries. Advise a stock-specific approach; prefer index majors over the mid-and small-caps,” advise analysts at Religare Broking.

GLOBAL MARKETS

Asian shares were on a slippery slope on Monday as plunging oil prices fanned worries about a dimming outlook for the global economy as investors brace for a crucial meeting between US and Chinese leaders at the end of the week.

MSCI's broadest index of Asia-Pacific shares outside Japan was down slightly while Japan's Nikkei posted gains of 0.2 per cent after initial losses.

OIL PRICES

Oil prices won back some ground after hefty losses on Friday, but remained under pressure with Brent crude below $60 per barrel amid weak fundamentals and struggling financial markets.

Front-month Brent crude oil futures were at $59.20 per barrel, up 40 cents, or 0.7 per cent, from their last close. US West Texas Intermediate (WTI) crude futures, were up 16 cents, or 0.3 per cent, at $50.58 per barrel.

(with Reuters input)
MARKETS LIVE: Things you must know before the trading week begins

Buy Raymond for a target of Rs 930, SL of Rs 755: Prabhudas Lilladher   CMP: Rs 814.85 TARGET: Rs 930 STOP LOSS: Rs 755   The stock has made a decent bounce back from the bottom made at around 600 levels and after a brief consolidation phase near 750-770 levels has given a breakout for further fresh upward move. The RSI has been on the rise so also the MACD maintaining a positive bias and we anticipate there is more upside potential for the stock to rise in the coming days. With decent volume participation witnessed, we recommend a buy in this stock for an upside target of 930 keeping a stop loss of 755. Click here to read more

MARKETS LIVE: Things you must know before the trading week begins

Top trading calls by Anand Rathi   CENTURY TEXTILES: SELL TARGET: Rs 859 STOP LOSS: Rs 913   The stock has completed a five wave rise as well as it has formed a bearish head and shoulders pattern on the daily charts. The momentum indicator has also provided a sell crossover thus confirming the downside. A minimum target on the lower side comes to 859 and for the same, the stop loss should be pegged at 913 levels. Click here for more trading ideas

MARKETS LIVE: Things you must know before the trading week begins

Oil check   Oil prices traded near their lowest levels since October last year, having dived 8 per cent on Friday for the biggest weekly losses in nearly three years, with rising US production intensifying fears of a supply glut.    Front-month Brent crude oil futures were at $59.20 per barrel, up 40 cents, or 0.7 per cent, from their last close. US West Texas Intermediate (WTI) crude futures, were up 16 cents, or 0.3 per cent, at $50.58 per barrel.

MARKETS LIVE: Things you must know before the trading week begins

SGX Nifty At 8.30 am, SGX Nifty is trading 27 points, or 0.3 per cent higher at 10,582 levels.

MARKETS LIVE: Things you must know before the trading week begins

Asian shares tick up but oil rout dampens sentiment   Asian shares edged higher on Monday, though investors were cautious as plunging oil prices fanned worries about a dimming outlook for the global economy.   MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.4 per cent, led by gains in Taiwan shares following local elections, while Japan’s Nikkei advanced 0.6 per cent.

MARKETS LIVE: Things you must know before the trading week begins

Wall Street check   US stocks closed lower in a shortened post-holiday trading session on Friday as the energy sector tumbled on continued weakness in oil prices, and the benchmark S&P 500 confirmed its second correction of 2018. The three major US indexes all fell well over 3 per cent for the week, with the Dow industrials and the Nasdaq posting their biggest weekly percentage declines since March.   The Dow Jones Industrial Average fell 178.74 points, or 0.73 per cent, to 24,285.95, the S&P 500 lost 17.37 points, or 0.66 per cent, to 2,632.56 and the Nasdaq Composite dropped 33.27 points, or 0.48 per cent, to 6,938.98.

MARKETS LIVE: Things you must know before the trading week begins

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First Published: Mon, November 26 2018. 08:10 IST