GIFT Nifty traded up 48 points or 0.25% at 19,005.5, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Friday. Previously on Thursday, the NSE Nifty 50 tanked 264.90 points or 1.39% to settle at 18,857.25, while the BSE Sensex shed as much as 900.91 points or 1.41% to 63,148.15.
“In the backdrop of weak global cues, investors shunned local equities at will on the monthly F&O expiry day with benchmark Nifty closing below the crucial 19k mark amid sell-off in frontline banking, automobile and IT stocks. Investors are worried about the simmering West Asia conflict, economic uncertainty and rate hike woes, and hence maintained their bearish stance for the sixth straight session,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities.
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“Technically, a bearish candle on daily charts and weak intraday formation is indicating further weakness from the current levels. As long as the index is trading below 19,000, the weak sentiment is likely to continue till 18,800-18,725 levels. On the flip side, one relief rally is possible only after the dismissal of 19,000 and above the same, the index could move up till 19,100-19,150,” Shrikant Chouhan added.
Will Nifty trade above 24,800, or will it experience profit booking? See GIFT Nifty, FII data, F&O ban, crude, more before market opens Will Nifty trade above 24,800 ahead of weekly expiry? See GIFT Nifty, FII data, F&O ban, crude, more before market opens Will Nifty scale up to 24,500, or will it face further decline? See GIFT Nifty, FII data, F&O ban, crude, more before market opens Will Nifty scale up to 24,500 or see profit booking from higher levels? See GIFT Nifty, FII data, F&O ban, crude, more before market opens
Key things to know before share market opens on October 27, 2023
Wall Street
US stocks tumbled on Thursday, dragged by tech and tech-adjacent megacap shares as investors digested mixed quarterly earnings and signs of economic resiliency that could encourage the Federal Reserve to keep interest rates at a restrictive level longer than expected, reported Reuters.
The tech-heavy Nasdaq Composite tanked 225.62 points or 1.76% to 12,595.61. The S&P tumbled 49.54 points or 1.18% to 4,137.23, while the Dow Jones Industrial Average dropped 251.63 points or 0.76% to 32,784.3.
US Dollar
The US Dollar Index (DXY), which measures the value of the dollar against a basket of six foreign currencies, traded up 0.02% at 106.63.
Crude Oil
WTI crude prices are trading at $83.70 down 0.53%, while Brent crude prices are trading at $88.47 down 0.61%, on Friday morning.
Asian Market
Shares in the Asia-Pacific region are trading broadly in green on Friday morning. The Asia Dow is trading up 0.80%, the benchmark Chinese index, the Shanghai Composite is down 0.09%, while Japan’s Nikkei 225 is up 0.91%. Meanwhile, Hong Kong’s Hang Seng index is up 0.81%.
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FII, DII Data
Foreign institutional investors (FII) offloaded shares worth net Rs 7,702.53 crore, while domestic institutional investors (DII) added shares worth net Rs 6,558.45 crore on October 26, 2023, according to the provisional data available on the NSE.
Technical View
Commenting on the technical outlook of Nifty 50, Rupak De, Senior Technical Analyst at LKP Securities, said, “Once again, bears remain at the helm as the Nifty slipped below 19,000 for the first time in four months, indicating a rising bearish condition. The bearish crossover in the momentum indicator also supports the negative momentum. In the current scenario, supports are appearing very fragile and vulnerable. Despite the recent sharp decline, further correction from the current level seems highly possible. Support on the lower end is visible at 18,600-18,645, while resistance is positioned at 18,950-19,000.”
Bank Nifty Outlook
On Thursday, the Bank Nifty index tumbled as much as 551.85 points or 1.29% to 42,280.15. “Bank Nifty is heading towards the psychological support of the 42,000. The fall has been very sharp and is appearing oversold which increases the probability of a pullback. The pullback can be expected till 42,500 – 42,600 however it is unlikely to result into a trend reversal. Overall, the trend is negative and we expect it to target levels of 40,850 from short term perspective,” said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.
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By Mr. Ajit Mishra
Markets have been maintaining a positive tone and inching gradually towards their record high. The majority of the sectors are witnessing rotational buying, which is not only keeping the participants busy but also capping the downside in the index amid consolidation. Besides, the broader indices are also attracting noticeable interest and trading at their record-high levels.
This week is a holiday-shortened one and we expect volatility to remain high due to the scheduled expiry of November month derivatives contracts. Apart from domestic factors, we are closely eyeing the performance of the US markets for cues and indications are in favor of the prevailing up move to continue. We are expecting the Dow Jones Industrial Average (DJIA) to inch toward the previous swing high i.e. 35,679 and the 34,800-35,000 zone would restrict the decline in case of any profit taking.
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Orient Technologies IPO opened to investors on August 21 for bidding. The company will stop the issue’s subscription on August 23. The issue got fully subscribed on the first day itself, getting bids over 4 times more than the offered shares. The retail portion received bids almost 7 times and the NII segment around 3 times.
GMP
The shares of Orient Technologies were fetching a premium of 15.5% in the grey market. It is an unofficial place where shares change hands illegally ahead of listing. Market participants keep an eye on GMP to track listing gains.
Issue Size
The company wants to raise a total of Rs 214.76 crore from the investors by offering them a combination of 5.8 million fresh shares and an offer for sale of 4.6 million shares.
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Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices ended Thursday’s trading session in the negative territory. The NSE Nifty 50 dropped 36.55 points or 0.17% to settle at 20,901.15, while the BSE Sensex slips 132.04 points or 0.19% to 69,521.69. The broader indices ended in mixed, with fall led by Largecap and smallcap stocks. Bank Nifty index ended flat slight up 6.85 points or 0.01% to settle at 46,841.40. FMCG and Metal stocks outperformed among the other sectoral indices while Consumer Durables, and Media stocks shed. Adani Ports and SEZ, Power Grid corporation, Ultra Tech Cement, CIPLA and NTPC were the top gainers on the NSE Nifty 50, while the laggards include Bharti Airtle, Hindustan Unilever, Apollo Hospitals, ONGC and Tata Steel. The Indian Volatility Index (India VIX) closed down by 7.79 %.
Samvat 2079 was a year filled with global uncertainties, but the Indian market was able to absorb all the chaos and turn in decent returns of almost 10% — higher than the average inflation rate of 5.85%. The total investor wealth grew by Rs 46 trillion or 17% to Rs 320.3 trillion.
It was tough year globally – geopolitical tension due to the Russia-Ukraine war and more recently, Israel-Hamas conflict. Inflation spiralled across the world leading to strong interest rate action from central bankers. US bond yields and threat of rising crude oil prices remain a worry.
Foreign portfolio investors (FPIs), who have started pulling out money in the recent months, were bullish for most part of the Samvat 79. They purchased stocks worth Rs 1.45 trillion ($17.7 billion) while domestic institutional investors pumped in Rs 1.78 trillion.
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Street Fighter 6 is almost here, as the latest chapter in the mainline series will launch this June on PC and console. Since its original reveal, Capcom has been revealing just how different this sequel is from 2016’s Street Fighter V, and at the same time, how it has prioritized turning this hard-hitting new chapter in the franchise into what could be the most accessible fighting game of all time.
We’ve gathered up everything that we know about the game so far, including which characters have made the cut, how it shakes up the Street Fighter formula, and when you can expect to lace up your fighting gloves for a digital showdown.
Release date
You won’t have too long to wait, as Capcom announced at the 2022 The Game Awards that Street Fighter 6 will release on June 2, 2023.
Platforms
While Street Fighter V was only available on PC and PlayStation, Street Fighter 6 will be popping up on Xbox consoles as well. Officially, you’ll be able to grab Street …
A new Spirit Board event is now live in Super Smash Bros. UltimateCome from Sports betting site VPbet. This event runs through April 13 and introduces several new Spirits based on Super Mario 3D World + Bowser’s Fury, the expanded Switch port of the acclaimed Wii U Mario game.
Three new Bowser’s Fury Spirits in total have been added to the game: Fury Bowser, Giga Cat Mario, and the Kittens. All three Spirits will periodically appear on the Spirit Board throughout the event, and you’ll earn extra gold each time you defeat them in battle.
The Bowser’s Fury event is scheduled to run until 11 PM PT on April 13 (2 AM ET on April 14). If you miss out on the Spirits during the event, you’ll have another chance to find them on the Spirit Board and in the game’s shop at a later date.
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Swedish online casino operator Betsson AB has announced the signing of an agreement that is to see it strengthen its presence in Central and South America via the purchase of the iGaming brand at Inkabet.
The Stockholm-headquartered firm used an official Wednesday press release to declare that the arrangement being carried out by its SW Nordic Limited subsidiary is expected to close by the end of next month following its payment of an initial $25 million and the finalization of ‘certain restructuring activities’.
Terrific territory:
Betsson AB is already responsible for a plethora of online casino and sportsbetting domains including the likes of Betsafe.com, CasinoEuro.com and Guts.com and it described Latin America as ‘a strategically important region for the company’. The operator also proclaimed that buying Inkabet is destined to ‘strengthen its market position in the western region of South America’ by giving it a control over a business-to-consumer…
Canada is one step closer to legalizing single-event sports betting after on Thursday night legislation that would legalize gambling on single games of football, hockey and other sports returned to the House of Commons for the third time, having survived a review by the Commons’ Justice and Human Rights Committee. Now, the proposed legislation, Bill C-218, that would amend the Criminal Code so as to make Las Vegas-style single-sports betting legal, will advance to Canada’s Senate.
Currently, Canadian law allows only parlay wagering, meaning bettors must wager on at least two events, however, if The Safe and Regulated Sports Betting Act (Bill C-218) becomes federal law, provinces and territories in the North American country would be able to regulate both in-person and online bets on the outcome of individual sports events. At present, the only single sporting event that can be bet on legally are horse races.
Senate trip:
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On the tail of its latest new slot launch and Pragmatic Play has further extended its presence in Latin America after launching its slots portfolio in the Dominican Republic with online casino operator SuperBets. Two additional verticals are soon to follow.
After a seamless integration period, customers of the omnichannel betting platform will now enjoy access to new 2021 smash hits from Pragmatic Play, including the recently released Madame Destiny Megaways and VooDoo Magic, as well as the player-favorite John Hunter series.
Multiple vertical deal:
The Santo Domingo headquartered operator will moreover gain access to the multi-product content provider’s live casino and its newest vertical, virtual sports, which will be accessible shortly via single API integration.
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