Bourses may open negative on Nov 11, 2024

11 Nov 2024 , 09:19 AM

Indian benchmark indices likely to open negative on November 11. The GIFT Nifty was trading at 24,129, around 21 points down this morning.

Indian stock markets closed lower for the second straight session on November 8. This was even after the positive cues from global markets following the U.S. Federal Reserve’s quarter-point rate cut. The Nifty fell below the 24,150 mark, closing at 24,148.20, down 51.15 points or 0.21%. The Sensex also slipped, ending 55.47 points or 0.07% lower at 79,486.32.

Asian markets declined on Monday as China’s new economic support measures fell short of investor expectations. The data was pointing to ongoing deflationary concerns. Meanwhile, Bitcoin reached a record high, surpassing $81,000.

In the U.S., the S&P 500 hit a new all-time high, briefly crossing 6,000 points before closing up 0.4%. The Dow Jones gained 0.6%, while the Nasdaq Composite ended the day flat. Treasury yields dropped as investors welcomed Donald Trump’s decisive win, though China’s fiscal measures tempered the optimism.