Sensex and Nifty are also seeing sluggishness amid weak global cues.
Your import deadline has been extended to 31 December. DGFT has released an import quota of 4 lakh metric tons for the year 2020-21.
The rupee has weakened 9 paise against the dollar to open at 73.94 against 73.85 today.
Sensex and Nifty are also seeing sluggishness amid weak global cues. However, there is light buying in midcap stocks. The midcap index of BSE is trading with a gain of 0.23 per cent. But smallcap stocks are seen selling. The BSE Smallcap index is trading with a weakness of 0.03 per cent. Today there is light buying in oil-gas stocks. The BSE oil and gas index is trading up 0.15 per cent.
Currently, the 30-share BSE Sensex is trading around 40,000, down by 115 points, or 0.29 per cent. On the other hand, NSE Nifty, the 50-share major index, is trading around 11,745 with a weakness of about 25 points i.e. 0.21 per cent.
Strategy on nifty
Virendra Kumar of CNBC-Awaaz says that its registration zone is 11823-11844. The larger registration zone is 11928-11950. The base zone is 11730-11713. Its large base zone is 11660-11650. Tomorrow’s low level 11712 is very important. Holding 11660 is also necessary. Hold 11712-660, then call 11900. Global signs are complex but FIIs are not yet negative. Dow Jones’ decline has been digested by the market. Focus on the option.
Strategy on nifty bank
Virendra Kumar of CNBC-Awaaz says that its registration zone is 24340-24440. The larger registration zone is 24660-24740. Its base zone is 23800-23840. The larger base zone is 23580–23660. The breakdown of 24000 at intraday yesterday was quite shocking. Keep an eye on the 24200 put after the opening. If
the top of the 24200 turns out, a pullback will also be found.
Know today’s trading calls
KR Choksey Shares Securities
sbi life @ 778 , stl 773, tgt 788
SELL TITAN TGT 1170 SL 1235
SELL BANDHAN BANK SL 308 TGT 283
Global signal weakens
The sharp rise in Corona and the delay in relief packages has seen a sharp decline in US markets. The DOW closed down 650 points in yesterday’s trade. Today, however, the DOW FUTURE appears to be upwards of about 70 points. Asia had a weak start here, but SGX NIFTY is trading at around 0.45 per cent. In yesterday’s trade, the US market saw the biggest decline since September. Travel related stocks have slipped in the US. The S&P Airlines index has dropped 5 percent.
Corona’s furore continues
The US market has fallen due to the rapid increase in Corona cases. In the US, a 7-day average of 68,767 cases has been recorded. Corona cases in the world have crossed 4.30 crore. On the other hand, the total number of corona patients in India has crossed 79 million. In 24 hours, 45,148 new patients have been found and 480 deaths have occurred. So far, more than 71 lakh patients of Corona have been cured in the country. The recovery rate is 90.23 percent. So far 1,19,014 corona patients have died in India. Currently the death rate is 1.5 percent. On the other hand, Johnson & Johnson claims to have the vaccine by January.
Corona test fee reduction
COVID-19 RT-PCR test price has been reduced in Maharashtra. The Maharashtra government has capped the prices of this test. The new rate of COVID-19 RT-PCR test has been capped at Rs 980. Earlier this test used to cost 1200 rupees. With this, now you have to pay 980 rupees after taking samples from the collection site. At the same time, you will have to pay a charge of Rs 1800 for a sample collection from home. Please tell that the collection from the first house used to cost 2000 rupees. The samples from kiosks and clinics will cost Rs 1400. With the capping of test prices, now private labs will not be able to charge more than the fixed rate.
Crude dropped 3 percent yesterday
Crude fell 3 percent yesterday due to concerns over demand. There is pressure on crude due to the resumption of supply of Libya. Meanwhile, the Saudi Energy Minister has said that a bad phase has passed for crude oil.
NTPC will share buyback
NTPC has an important board meeting on November 2 to discuss share buybacks.
2 + 2 ministerial level meeting between India-US today
India-US relationship will be stronger. Today there will be a 2 + 2 ministerial level meeting involving Defense and Foreign Ministers of both countries. The Basic Exchange & Cooperation Agreement will be signed.
Punjab beat Kolkata in IPL, match between Hyderabad and Delhi today
Kings XI Punjab has won their fifth consecutive win in IPL. Kings XI Punjab defeated Kolkata Knight Riders by 8 wickets. Today there will be a match between Sunrisers Hyderabad and Delhi Capitals.