Stock Market Holiday: the nation’s fairness, foreign money and commodity markets are shut on Tuesday, November 8, 2022, on account of Gurunanak Jayanti. While the fairness and foreign money markets will resume commerce on Wednesday, November 9, 2022, commodity markets will resume for the night buying and selling session at 5 pm on Tuesday.
Commodity markets comply with two periods – morning session from 9:00 am to five:00 pm and night session from 5:00 pm until 11:30/11:55 pm.
Monday, the benchmark fairness indices on the BSE and National Stock Exchange (NSE) continued their gaining momentum for the second consecutive session aided by positive aspects in public sector banks, auto and steel shares amid optimistic world cues and a fall in crude costs. The S&P BSE Sensex rose 234.79 factors (0.39 per cent) to finish at 61,185.15 whereas the Nifty 50 gained 85.65 factors (0.47 per cent) to settle at 18,202.80.
The rupee appreciated by 43 paise to shut at a one-month excessive of 81.92 in opposition to the US greenback on Monday amid a weak American foreign money and sustained overseas fund inflows. Favourable feedback from the US Federal Reserve additionally boosted the foreign exchange market sentiment.
Commenting on the outlook for Nifty, Nagaraj Shetti, Technical Research Analyst at HDFC Securities mentioned, “The short term trend of Nifty continues to be positive. The market is now showing signs of sustainable upmove into new swing highs. The next upside levels to be watched around 18,350 and next 18,600 levels in the next 1-2 weeks. Immediate support is placed at 18,100 levels.”