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Indian stocks look firm even as Asian markets open mixed

By Vinu Lal

03:05, 24 November 2021

Candle stick graph chart of stock market investment trading
Benchmarks NSE and BSE likely to open in the positive as indicated by SGX Nifty Futures – Photo: Shutterstock

Indian stock markets are all set for a firm start, riding on yesterday’s strength even as Asian shares open mixed. SGX Nifty futures, representing Indian stocks in the Singapore Stock Exchange, were trading up 0.25% on Wednesday morning trade on the expectation of easing oil prices. 

Major economies including India, the US, China, Japan, South Korea and Britain on Tuesday agreed to release millions of barrels of oil from their respective strategic reserves as oil-producing countries dilly-dallied demand for more crude oil to stabilise prices.

Wall Street indices closed a volatile trading session overnight on a mixed note as gains in banks and energy stocks muted other sectoral losses. Dow Jones Industrial Average rose 0.55% while S&P 500 gained 0.17% and Nasdaq Composite dropped 0.5% on Tuesday.


1.27 Price
+0.470% 1D Chg, %
Long position overnight fee -0.0047%
Short position overnight fee -0.0035%
Overnight fee time 22:00 (UTC)
Spread 0.00013


0.67 Price
+0.740% 1D Chg, %
Long position overnight fee -0.0071%
Short position overnight fee -0.0011%
Overnight fee time 22:00 (UTC)
Spread 0.00006


147.50 Price
-0.760% 1D Chg, %
Long position overnight fee 0.0111%
Short position overnight fee -0.0194%
Overnight fee time 22:00 (UTC)
Spread 0.010


0.67 Price
+0.740% 1D Chg, %
Long position overnight fee -0.0071%
Short position overnight fee -0.0011%
Overnight fee time 22:00 (UTC)
Spread 0.00006

“Indian markets could open mildly higher despite largely mildly negative Asian markets today and mixed  US markets on Tuesday,” said Deepak Jasani, head of retail research, HDFC Securities. He added that the market may be pricing in a rise in interest rates beginning in the middle of next year, which is not positive for long-duration assets like technology stocks.

“Nifty gave a recovery of over 300 points after making a low of 17211. It closed at 17490, up by 80 points. Nifty is currently in a short-term downtrend and traders are suggested to exit longs in all upside rallies. Levels to watch out for Nifty today will be 17600 on the upside and 17200 on the lower side. A break in any direction will define the trend further,” Gaurav Udani, chief executive of ThincRedBlu Securities told

Key things to note before trade

  • Bharat Petroleum Corporation will soon float a tender to build the country’s largest green hydrogen plant as it aims to achieve net-zero emissions for its operations by 2040
  • Moody’s affirmed Bharti Airtel’s corporate family rating and senior unsecured rating
  • The merger of Zee Entertainment Enterprises (ZEEL) and Sony Pictures Networks India is on track and “in the final stages of stitching up”, said Punit Goenka, chief executive of ZEEL on Tuesday
  • The Indian arm of German auto component maker Schaeffler will invest over INR3bn ($40.3m) in the next four year years for the new facility

Read More: India’s oil, gas output rises in October as economy quickens

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

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