Investors will take cues from the December quarter corporate earnings, with blue-chips like Infosys, Reliance Industries, Hcl Technology, Wipro, Tech Mahindra, Axis Bank among others scheduled to report their results this week.
Q3 earning by index heavyweights to dictate market move this week- Daily Market Update 13th Jan 2025
Overview and Outlook
Global Stock Market Today
- US equity markets settled lower by 1.5%.
- European equity markets settled lower in range 0.5% to 0.85%.
- Asian equity markets are trading lower.
- GIFT Nifty is down by 170 points, Nifty futures likely to open around 23300 levels.
Nifty Overview & Outlook
On Friday, benchmark Nifty index ended lower at 23431 levels after a cut of 95 points from its previous closing values.
Broader markets underperformed the benchmark as both Mid and Small cap indices fell 2% to 2.61% respectively against 0.4% decline in the frontline index.
All sectoral indices, barring IT that soared 3.44% on back of positive sentiments post TCS results, ended in red. Nifty Media index was the worst hit, fell 3.59% followed by Realty, PSU Bank and Pharma indices that fell in range 2% to 3% each.
Technically, Nifty index is trading below its long term as well as in short term moving averages in lower lows – lower highs formation. On levels front, it is trading close to its price support of 23250-23300 levels. Going ahead, cross and sustenance below the said levels will open the doors for fresh decline towards 22800 spot levels.
Derivatives Overview & Outlook
Last Friday, all F&O index futures fell on fresh short buildup as Nifty, Banknifty, Finnifty and Midcapnifty futures added 2.2%, 7.8%, 3.8% and 3.3% of open interest respectively.
All the sectoral indices, barring Technology, settled lower. Amongst them, Banking, Metals, Oil & Gas and Power stocks witnessed maximum addition of short positions whereas some long unwinding was seen among Automobile, Cement and Pharma stocks.
On option front, call writing along with some put addition was seen at multiple strikes. Maximum call positions are at 24500 CE followed by 24000 CE and 22000 PE followed by 22500 strike. The quantum of call positions are still way too high than that of put positions indicating towards a sell on rise approach for Nifty index.
Institutional Trading Activity
Last week, FIIs sold stocks worth Rs 17288 Cr in the cash segment, sold stocks futures worth Rs 1744 Cr also sold index futures worth Rs 4366 Cr. DIIs were net buyers in the cash segment to the tune of Rs 21683 Cr during the week.
Nifty Futures, Banknifty Futures and Finnifty Key Levels
Nifty – Resistances 23700-23800; Supports 23450-23350
Banknifty – Resistances 49200-49500; Supports 48700-48500
Finnifty – Resistances 23200- 23300; Supports 23050-22980
F&O Security in Ban Today: BANDHANBNK, HINDCOPPER, LTF, MANAPPURAM, RBLBANK.
Important Results Today : ANANDRATHI, ANGELONE, DELTACORP, HCLTECH, HSCL.
Disclosure
Globe Capital Market Limited (“GCML”) is a Stock Broker registered with BSE, NSE, MCX, NCDEX, and MSEI in all the major segments viz. Capital, F & O and CDS segments. GCML is also a Depository Participant and registered with both the Depositories viz. CDSL and NSDL. Further, GCML is a SEBI registered Portfolio Manager and Research Analyst. GCML includes subsidiaries, group and associate companies, promoters, directors, employees and affiliates.
AY Securities and Commodities Limited, Globe Derivatives and Securities Limited & Globe Fincap Limited are subsidiaries of GCML. AtoZ Finstock Private Limited, A to Z Consultants Private Limited, A to Z Venture Capital Limited, M. Agarwal Stock Brokers Private Limited, A M Share Brokers Private Limited, Shri Adinath Advertising Company Pvt. Ltd., Orient Landbase Private Limited, Bolt Synthetic Private Limited, Price ponder Private Limited, Lakshya Impex Private Limited and Launchpad Fintech Private Limited are associates of GCML.
This report has been prepared by GCML and published in accordance with the provisions of Regulation 19 of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014, for use by the recipient as information only and is not for general circulation or public distribution. This report is not to be altered, transmitted, reproduced, copied, redistributed, uploaded, published or made available to others, in any form, in whole or in part, for any purpose without prior written permission from GCML. The projections and the forecasts described in this report are based on estimates and assumptions and are inherently subject to significant uncertainties and contingencies. Projections and forecasts are necessarily speculative in nature, and it can be expected that one or more of the estimates on which the projections are forecasts were based may not materialize or may vary significantly from actual results and such variations will likely increase over the period of time. This report should not be construed as an offer to sell or the solicitation of an offer to buy, purchase or subscribe to any securities, and neither this report nor anything contained therein shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. It does not constitute a personal recommendation or take into account the particular investment objective, financial situation or needs of any individual in particular. The research analysts of GCML have adhered to the code of conduct under Regulation 24 (2) of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014. The recipients of this report must make their own investment decisions, based on their own investment objectives, financial situation or needs and other factors. The recipients should consider and independently evaluate whether it is suitable for its/ his/ her/their particular circumstances and if necessary, seek professional / financial advice as there is substantial risk of loss. GCML does not take any responsibility thereof.
Any such recipient shall be responsible for conducting his/her/its/their own investigation and analysis of the information contained or referred to in this report and of evaluating the merits and risks involved in securities forming the subject matter of this report. The price and value of the investment referred to in this report and income from them may go up as well as down, and investors may realize profit/loss on their investments. Past performance is not a guide for future performance. Actual results may differ materially from those set forth in the projection.
This report has been prepared by GCML based on the information available in the public domain and other public sources believed to be reliable. Though utmost care has been taken to ensure its accuracy and completeness, no representation or warranty, express or implied is made by GCML that such information is accurate or complete and/or is independently verified. The contents of this report represent the assumptions and projections of GCML and GCML does not guarantee the accuracy or reliability of any projection, assurances or advice made herein. Nothing in this report constitutes investment, legal, accounting and/or tax advice or a representation that any investment or strategy is suitable or appropriate to recipients’ specific circumstances.
Since GCML or its associates are engaged in various financial activities, they might have financial interest or beneficial ownership in various companies including subject company/companies mentioned in the report. GCML or its associates have not received any compensation for investment banking or merchant banking from the subject company in the past 12 months. GCML or its associates might have received any compensation including brokerage services and for products or services other than investment banking or merchant banking from the subject company in the past 12 months. It is confirmed that GCML or research analyst or its associates have not managed or co-managed public offering of securities for the subject company in the past 12 months.
Research analyst or GCML or its relatives’/associates’ have no material conflict of interest at the time of publication of this report. Neither research analyst nor GCML are engaged in market making activity for the subject company. It is confirmed that research analysts do not serve as an officer, director or employee of the subject company. It is also confirmed that research analyst have not received any compensation from the subject company in the past 12 months. GCML or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report.
No material disciplinary action has been taken on GCML by any regulatory authority impacting Equity Research Analysis activities.
The views contained in this document are those of the analyst, and the company may or may not subscribe to all the views expressed within. This information is subject to change, as per applicable law, without any prior notice. GCML reserves the right to make modifications and alternations to this statement, as may be required, from time to time.
Research analyst or GCML or its relatives’/associates’ do not have actual/beneficial ownership of 1% or more in securities of the subject company, at the end of the month immediately preceding the date of publication of the document.
Registration granted by SEBI, membership of BASL (in case of IAs) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.