GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a subdued start on Monday amidst global concerns and dollar strength. Reports suggest that US President-Elect Donald Trump had spoken to Russian President Vladimir Putin against escalating the war against Ukraine.
Key global cues to know on November 11, 2024
Asian Markets in the red
Asian markets fell on Monday morning after China’s October inflation numbers came in lower than expected, prompting concerns over the recovery in the world’s second-largest economy.
Japan’s Nikkei 225 was down 0.16% at 39,436. The Korean index Kospi was down 0.94% at 2,536.77. Similarly, the Asia Dow was trading 0.27% lower at 3,753.16. The benchmark Chinese index, Shanghai Composite was trading flat at 3,452.
Also Read ABB India shares drop over 5% on cautious outlook for new order wins in FY25 Expect 30-35 per cent non-grocery mix in quick commerce: Swiggy CFO Premier Energies Share Price Today Highlights, 04 Nov, 2024: Premier Energies closes 0.47% lower Community commerce: It’s still too early to write them off, but kirana stores have to reinvent themselves to stay the course
US Dollar strong
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was trading up 0.01% at 104.96 on Monday morning. The index is a tool for assessing the strength or weakness of the US dollar to a basket of major currencies. The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, etc. Meanwhile, the Indian rupee fell to an all-time low against the dollar on Friday and has been trading weak on concerns about FII outflows, Fed rate cuts and global market volatility.
Crude concerns
WTI crude prices were trading at $70.01 down by 0.52%, while Brent crude prices were trading at $73.64 down by 0.32%, on Monday morning.
Wall Street
Key US benchmark indices rallied on Friday as traders weighed the latest rate cut from the Federal Reserve. The S&P 500 advanced 0.74% to close at a record high of 5,973.10. The Nasdaq Composite rose 1.51% to close at 19,269.46, its first close above 19,000. The Dow Jones Industrial Average was little changed, ticking down less than one point to 43,729.34. President-elect Donald Trump’s victory also helped sentiment.
» Read More
