Market Ahead, November 14: All you need to know before the Opening Bell
Telecom stocks will be in focus today after the Department of Telecommunications (DoT) told telecom operators to pay their revenue share dues within three months as directed by the Supreme Court
BS Web Team New Delhi
 "stock market, markets")
Market participants will today look at corporate results, global cues, rupee's trajectory against the US dollar, and macro data for market direction.
SpiceJet on Wednesday reported a loss of Rs 462 crore for the September quarter, its first quarterly loss during the current financial year on the back of higher costs during a seasonally weak quarter.
Today, a total of 1,431 companies, including Apollo Hospitals, NBCC, and Bharti Airtel, are scheduled to announce their September quarter numbers.
Traders will also keep a close eye on Rupee's level today after the domestic currency fell to over two-month low and crossed 72 against the US dollar on Wednesday.
Moving ahead, data released yesterday showed that consumer prices rose at 4.6 per cent in October, the fastest rate since June last year. India's WPI inflation data for the month of October will be released today.
Apart from these, telecom stocks will be in focus today after the Department of Telecommunications (DoT) told telecom operators to pay their revenue share dues within three months as directed by the Supreme Court.
Global cues for the day:
Asian stocks clung to tight ranges on Thursday. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.01 per cent. Australian shares were up 0.12 per cent, while Japan’s Nikkei stock index fell 0.02 per cent.
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On Wall Street, the Dow Jones Industrial Average rose 0.3 per cent and the S&P 500 inched 0.07 per cent higher, both posting their record closing highs on Wednesday. In early trade, SGX Nifty was in the green, indicating a positive start for the domestic indices.
In commodities, oil prices edged up on Wednesday and brent futures rose 31 cents to settle at $62.37 per barrel,
On Wednesday, the S&P BSE Sensex slid 0.57 per cent to end at 40,116 levels while NSE's Nifty50 index slipped below 11,850-mark to end at 11,840, down 0.61 per cent.
For today, analysts say that if Nifty breaches 11,800 level, it will lead to sell-off which opens risk of correction up to 11,650. Therefore, traders should be cautious and should sell on higher levels every spike keeping close eye on 12,000.
Here's a trading idea by Tradebulls Securities who recommend selling Ujjivan Financial Services Limited at current market price for the target of Rs 250-240.
Topics :MarketsAsian marketsMarket Ahead
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First Published: Nov 14 2019 | 7:53 AM IST
