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After a sharp bounce in the previous session, the Indian equity benchmarks ended lower on November 14 on mixed global cues, with the 30-pack Sensex closing 170 points down at 61,624 and the Nifty 20 points lower at 18,329.The market opened flat and traded in the red for the most part of the session, finishing near the day's low. Although there were favourable domestic indicators, the market was under pressure due to weakness in the US and other Asian markets. India's wholesale inflation dropped below forecasts, aided by a slowdown in the prices of manufactured goods and fuel & electricity. In absence of any major event, participants will be eyeing crucial macroeconomic data viz. CPI and WPI inflation for cues. Besides, the performance of global indices and foreign flow trends will also remain on their radar. As we enter the last leg of the earnings season, companies like Biocon, Bharat Forge, Grasim, ONGC and IRCTC will announce their numbers along with several others. We’re gradually progressing towards the record high now, however, mixed signals from the global front are still keeping the momentum in check. Besides, we have not seen broad-based buying yet and participation from the index majors is also restricted.
Support: 18240, 18180, 18100
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