Stock Market Today: Sensex declines by 100 points amidst conflicting global cues, Nifty falls below 18400

Stock Market Today: In Japan, the Topix dipped 0.56% and the Nikkei 225 declined 0.76%. The Kospi in South Korea fell 1.08%, and the S&P/ASX 200 in Australia fell 0.43%. The Hang Seng index and the Hang Seng Tech index in Hong Kong both decreased by about 1% in early trading. Shanghai Composite in Mainland China was slightly down, and Shenzhen Component fell 0.289%. The largest MSCI index of Asia-Pacific stocks outside of Japan decreased by 0.65%.

At 61,783, the BSE Sensex was down 90.26 points, or 0.15%. Nifty50 was down 23 points or 0.13%, trading at 18,380.

"The market's bullish momentum is still strong. The drop in the volatility index, or VIX, from above 18 in October to around 14.6 at the moment, is a solid sign of bullish attitudes. The US CBOE VIX is likewise trending downward. This enhances the optimistic framework for equity markets, together with progressively declining US yields, according to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

The Nifty is just 1% away from all-time highs, so a last surge to a new record is always possible. After that, a profit booking and correction are likely.

Stock Market Today: The worst-performing Sensex stocks are the following

Nestle, Asian Paints, HUL, HDFC, Power Grid, Bajaj Finance, and Bharti Airtel were the top losers among Sensex equities, falling between 0.5 and 1%. NTPC opened lower, as did IndusInd Bank, ITC, SBI, Reliance, M&M, and SBI.

On the other hand, Kotak Bank, Infosys, Maruti, UltraTech Cement, Titan, Sun Pharma, and Dr. Reddy's Laboratories all opened higher.

Nifty Auto and Nifty PSU Bank both increased in value sectorally. Nifty Oil & Gas and Nifty FMCG both started off lower. Nifty Midcap50 decreased 0.15% while Smallcap50 up 0.13% in the overall market.

"On November 15, Nifty made a strong comeback from the morning's dip. The bounces following minor drops suggest that Nifty's recent uptrend's high has not yet been reached.

Nifty may potentially run into resistance in the range of 18,458 and 18,543.

According to Deepak Jasani, Head of Retail Research at HDFC Securities, Nifty might now encounter resistance in the 18,458-18,543 zone, while the 18,259-18,282 band could provide support in the short term.

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In overnight trading on Tuesday, the Dow Jones Industrial Average gained 0.17%, the S&P 500 gained 0.87%, and the Nasdaq Composite gained 1.45%.

While the Shanghai Composite in China and the Kospi in South Korea both experienced declines in early Asian trade, the Nikkei 225 in Japan saw an increase of 0.16%.

In relation to the US dollar, the Indian rupee dropped 46 paise to 81.37. The dollar index, which measures the change in the value of the US dollar against a basket of six important world currencies, rose by 0.23% to 106.65.

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