Top Cues To Know Before Markets Open On November 21

In earlier session on November 20, benchmark indices extended gains from the previous session to close near all-time highs as sentiment improved after signs of progress in phase 1 of the India–US trade deal and strong quarterly results from chipmaker Nvidia, which lifted global technology stocks and supported markets across Asia, including India.

Sensex closed at 85,632.68, up 446.21 points, or 0.52 per cent, and Nifty 50 ended at 26,192.15, with gains of 139.50 points, or 0.54 per cent.

Key Market Cues To Watch On November 21

In the session on November 21, a host of global cues are likely to impact investors’ sentiment. Here’s a quick look at these.

US Jobs Report

US unemployment rose to 4.4 per cent in September 2025, even as the economy added 1,19,000 jobs, according to delayed US Bureau of Labor Statistics data released on 20 November 2025.

The Bureau of Labor Statistics said nonfarm payrolls growth has been broadly subdued from April to September.  This has led to more uncertainty over whether the Federal Reserve will cut interest rates again in December.

The report, originally scheduled for October 3, was postponed due to the federal government shutdown. The agency also announced that the October jobs data will now be released on December 16 as part of a combined report that will include November numbers.

Japan PMI Data

Japan’s manufacturing activity shrank for the fifth straight month in November, even as the S&P Global flash Manufacturing PMI rose to 48.8 from 48.2 in October.

A PMI reading below the 50 mark indicates a contraction in business activity.

US Stock Market

Overnight, Wall Street's key indices made a sharp reversal from initial gains to close lower, as early tech-led gains faded after mixed US jobs data added uncertainty to the Federal Reserve’s policy outlook.

Nvidia, which jumped earlier in the session after its earnings, ended 3.2 per cent lower, dragging semiconductor stocks with it. The broader chip index fell 4.8 per cent.

The Dow Jones slipped 0.84 per cent, the S&P 500 declined 1.56 per cent, and the Nasdaq plunged 2.15 per cent.

Asian Stock Market

Asian markets fell in early trade on November 21 tracking weak cues from Wall Street, and as fading expectations of a Federal Reserve rate cut in December weighed on sentiment.

Japan’s Nikkei 225 fell 2.35 per cent at the open, while the broader Topix slipped 0.30 per cent. South Korea’s Kospi plunged over 4 per cent and the Kosdaq fell more than 3 per cent. Australia’s S&P/ASX 200 was down 1.40 per cent.

Hong Kong’s Hang Seng index declined more than 2 per cent at the open, and the mainland China’s CSI 300 fell nearly 2 per cent.

Gold Prices Today

Gold prices slipped in early trade on November 21 as the mixed US jobs report fuelled uncertainty whether the Federal Reserve will refrain from cutting interest rates at its December meeting.

Gold futures with December delivery on the Multi Commodity Exchange (MCX) slipped 0.20 per cent to trade at Rs 1,22,499 per 10 grams. Comex gold futures with December delivery also fell 0.20 per cent to trade at $4,052 per ounce.

Crude oil Prices Today

Crude oil prices slipped after Ukrainian President Volodymyr Zelenskiy agreed to move forward with a peace plan, coming just as US sanctions on two major Russian oil companies are set to take effect on November 21.

The Brent Crude Oil futures traded 1.33 per cent lower at $62.54 per barrel, while the West Texas Intermediate (WTI) Crude oil futures was down 1.44 per cent to quote at $58.15 per barrel.

US Dollar Index

The US dollar index futures slipped 0.06 per cent to 100.03 in early trade on November 21, easing from the previous session’s high of 100.35, as the mixed and delayed US jobs data offered little clarity on the Federal Reserve’s interest rate outlook.