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Asian markets closed on a mixed note after Wall Street began the Thanksgiving holiday on a high note. The underlying sentiment remained somewhat supported by expectations that the global rate-hike cycle has ended and that rate cuts may begin next year. Today (as on November 24), Asian markets opened mostly higher followed by the release of latest inflation data in Japan. While Nikkei rose 0.84%, Hang Seng fell 1.43% (as at 8 a.m. IST). • European equity markets closed with modest gains as Investors are looking ahead for further insights regarding the trajectory of interest rates in the minutes of the European Central Bank's October meeting. Ease in geopolitical uncertainties after the agreement to a ceasefire boosted the market sentiments. • US equity markets closed for public holiday.

Indian equity markets gave up the early gains and closed with minor losses dragged down by sell-off in information technology and healthcare stocks. Investors looking ahead for the upcoming economic events for further insights on the rate hike path. Meanwhile, ease in geopolitical concerns followed by the agreement to a ceasefire coupled with decline in oil prices in the global markets restricted the losses. • Key benchmark indices S&P BSE Sensex and Nifty 50 lost 0.01% and 0.05% to close at 66,017.81 and 19,802.00 respectively. • The overall market breadth on BSE was strong with 1,997 scrips advancing and 1,706 scrips declining. A total of 141 scrips remained unchanged. • On the BSE sectoral front, S&P BSE Realty was the major gainer, up 1.22% followed by S&P BSE Oil & Gas, up 1.21% and S&P BSE Energy, up 0.84%. S&P BSE Healthcare was the major loser, down 1.13% followed by S&P BSE IT, down 0.46% and S&P BSE Consumer Durables, down 0.44%.

According to the payroll data released by the Employees' Provident Fund Organization (EPFO), the number of new subscribers added by the EPFO decreased by 10.1% to 5.86 million in the first half of FY24 compared to the same period of last year. • According to data from the Petroleum Planning and Analysis Cell, India, the world's third-largest oil importer and consumer, increased its fuel imports in Oct 2023 after declining during the preceding four months to meet the country's winter demand. After falling to a one-year low in Sep 2023, crude imports increased 5.9% month over month to 18.53 million metric tons in Oct. • According to the media reports, Indian importers reduced their purchases of palm oil for shipments in Dec 2023 and Jan 2024 due to growing prices and the fact that refiners are experiencing negative margins as a result of recent heavy imports. For shipments scheduled in Dec, the landed cost of crude palm oil is Rs. 77,500 per metric ton, whereas the price of already imported oil is Rs. 76,500. • According to the report by a major global rating agency , the RBI's recent decision to mandate banks and non-bank financial institutions to set aside more capital against unsecured consumer credit would limit the growth of loans in this segment. This should also lessen the possibility that the growing demand for this kind of lending could compromise the stability of the financial system. • Unicommerce, a software-as-a-service provider for the e-commerce industry, reported a 52.5% YoY increase in revenue from operations to Rs 90.06 crore in Fiscal Year 2022-23 (FY23), up from Rs 59.03 crore the previous year. According to filings with the Registrar of Companies, the company's net profit after tax (PAT) increased from Rs 5.9 crore in FY22 to Rs 6.4 crore in FY23. For the third year in a row, the company's PAT was positive. • Adani Group's net profit increased by 107.7% to Rs 23,929 crore in the first half of Fiscal Year 2023-24 (FY24) compared to the same period last year. As per reports, net sales of companies slowed down by 14% to Rs 1.49 trillion in the first half of FY24.

Nifty Nov 2023 Futures stood at 19,868.75, a premium of 66.75 points above the spot closing of 19,802.00. The turnover on NSE’s Futures and Options segment fell to Rs.3,538.49 crore on November 23, 2023, compared with Rs. 3,62,105.58 crore on November 22, 2023. • The Put-Call ratio stood at 0.95 compared with the previous session’s close of 0.94. • The Nifty Put-Call ratio stood at 0.86 compared with the previous session’s close of 1.07. • Open interest on Nifty Futures stood at 13.28 million, compared with the previous session’s close of 12.64 million.

Bond yields remained mostly unchanged as market participants waited for the weekly debt auction to determine investor demand and looked out for fresh triggers. • Yield on the 10-year benchmark paper (7.18% GS 2033) rose by 2 bps to close at 7.26% as compared to the previous close of 7.24%. • Reserve Bank of India announced the auction of state government securities for seventeen states for a notified amount of Rs. 35,300 crore. The auction will be carried out on Nov 28, 2023. • According to the media reports, Power Finance Corporation Ltd. planned to raise at least Rs. 6 billion through bonds maturing in 10 years.

The Indian rupee in the spot trade fell against the U.S. dollar as demand for the greenback grows from domestic corporations and large foreign banks despite gains across most other Asian peers. • Euro rose against the U.S. dollar after Germany's manufacturing sector improved noticeably in Nov 2023.

Gold prices rose as investors are hoping that the U.S. Fed will not raise interest rates further. • Brent crude oil prices rose despite signs of rising U.S. inventories, as well as disappointment over the postponement of the OPEC+ ministerial meeting

According to the University of Michigan, U.S. consumer sentiment index for Nov 2023 was upwardly revised to 61.3 from a preliminary reading of 60.4. • According to the Commerce Department, U.S. durable goods orders plunged by 5.4% in Oct 2023 after jumping by a downwardly revised 4.0% in Sep 2023. The sharp pullback in durable goods orders came as orders for transportation equipment plummeted by 14.8% in Oct 2023 after spiking by 11.6% in Sep 2023. • According to the Monetary Authority of Singapore and the Ministry of Trade and Industry, Singapore’s consumer price index climbed 4.7% YoY in Oct 2023, faster than the 4.1% rise in Sep 2023. The rise in Oct 2023 was mainly reflected in higher private transport costs, in addition to the rise in core inflation.