6 Things to Know Before Market Opens on October 3, 2024
On Thursday, October 3, 2024, the benchmark indices, Sensex and Nifty 50, will likely be affected due to mixed cues from global markets and fears of a full-fledged war between Iran and Israel. At 08:12, Gifty Nifty traded at 25,702.5, down by 1.26%.
Previous Trading Session
On October 01, 2024, the Indian stock market indices settled the volatile session flat. The Sensex slipped 33.49 points, or 0.04%, to close at 84,266.29, while the Nifty 50 ended 13.95 points, or 0.05%, lower at 25,796.90.
FII and DIIs
On October 01, 2024, DIIs bought securities worth ₹4,609.55 crore, while FIIs sold securities worth ₹5,579.35 crore.
Put Call Ratio (PCR)
Nifty’s PCR has shifted to 0.67 in the previous session. A PCR ratio below 0.7 or heading toward 0.5 denotes a bearish trend, whereas a ratio above 0.7 or approaching 1 typically suggests a positive sentiment.
The increasing PCR, which is higher than 0.7 or surpasses 1, means traders are selling more Put options than Call options, which generally indicates the firming up of a bullish sentiment in the market. If the ratio falls below 0.7 or moves towards 0.5, then it indicates selling Call Options is higher than selling Put options, reflecting a bearish mood in the market.
Crude and Gold Prices
In energy markets, US crude settled up 0.39% at $70.10 a barrel and Brent ended the session at $73.90%, up 0.46% on the day. On the metals front, spot gold fell 0.14% to $2,659.22 an ounce. US gold futures fell 1.02% to $2,640.00 an ounce
Asian Markets
Despite growing Middle East tensions, Japanese stocks led gains in Asia, supported by the little overnight increase on Wall Street. The Topix index as a whole increased by 2%, whereas the Nikkei 225 gained 2.21 %. Hong Kong’s Hang Seng fell 2.35%, while Australia’s S&P/ASX 200 was down little at 0.07%.
US Markets
Amidst Middle East tensions and the impending release of additional US labour statistics this week, investors remain cautious despite the US stock market’s slight increases on Wednesday. The gains were driven by rises in technology firms. S&P 500 gained 0.79 points, or 0.01%, to 5,709.54, while the Dow Jones Industrial Average gained 39.55 points, or 0.09%, to 42,196.52. A gain of 14.76 points, or 0.08%, brought the Nasdaq Composite to a close of 17,925.12.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.