GIFT Nifty is pointing to a cautiously optimistic start, perfectly in sync with our “Call of the Day” — which suggests an up-and session on cards amid growing pessimism across global stock markets on concerns of higher valuations.
For the day, the hope is that Nifty maintains stability and moves into a consolidation phase rather than giving in to panic — Nifty should stabilize.
Please note, Wall Street witnessed Tuesday’s session in the dumpster with the S&P 500 and the Dow Jones marking their 4th straight losing streak.
Bottom-line: Nifty bulls will still aim to regroup on any intraday declines and we believe, the benchmark should hit and surpass its all-time high levels sooner rather than later.
7:00 AM GLOBAL UPDATE:
GIFT Nifty 🇮🇳: (+34, 25945)
Dow Futures: (+94, 46183)
Nasdaq 100 Futures (+26, 24529)
Nikkei (+263, 48963)
Hang Seng (+24, 25954)
Dow Jones (-499, 46092)
Nasdaq Composite (-275, 22433)
Bovespa (-471, 156522).
WHAT HAPPENED AT WALL STREET IN OVERNIGHT TRADE:
Sentiment at Wall Street deteriorated ahead of Nvidia’s earnings due Wednesday. So, the street is bracing for Nvidia earnings which will be scrutinized amid anxiety over stretched AI valuations
Nvidia (NVDA) was down 2.8% as the street was awaiting Nvidia earnings and CEO Jensen Huang’s press conference.
As on Tuesday’s closing bell, the Nasdaq Composite was down 1.2% at 22,432, the Dow Jones Industrial Average had fallen 1.1% to 46,091, and the broad-based S&P 500 was off 0.8% at 6,617.
The Next Big Catalyst: This week, all eyes will be on the FOMC Minutes from the latest meeting to trickle in this Thursday, November 20th.
The minutes will offer deeper insight into the Federal Reserve’s thinking after it lowered the federal funds rate by 25 bps at its October 2025 meeting, bringing the target range to 3.75%–4.00%.
Gold prices ($4063 per ounce) halted a three-day losing streak as traders stayed cautious ahead of a packed US data calendar. All eyes were on payrolls report on Thursday and the Fed’s minutes on Wednesday, investors are wary that incoming prints could constrain the Federal Reserve’s room to ease policy.
WTI crude oil futures ($60.35) are consolidating, after OPEC revised its outlook to show a supply surplus in the third quarter. The group now estimates global supply exceeded demand by about 500,000 barrels per day, reversing its prior deficit forecast.
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