Goods and Services Tax collections rose to Rs 1.77 lakh crore in December, staying above the Rs 1.7 lakh crore mark for a tenth consecutive month, data released on January 1 showed.
Tax collections were 7.3% higher than in December 2023, when they stood at Rs 1.65 lakh crore, but were lower than the Rs 2.1 lakh crore mark hit in April. The pace of growth was also the slowest in three months.
Global Stock Market Today
Nifty Overview & Outlook
Benchmark Nifty index settled higher at 23743 levels after adding 98 points to its previous closing values.
Small cap index outperformed the benchmark , gained over 1% whereas Mid cap index traded in line with the benchmark, rose 0.49%.
Majority of sectoral indices, barring Realty and Metal index, tracked at NSE settled in green. Nifty Auto index was the top performer, gained 1.34% followed by Media and Consumer Durable index that rose 0.81% & 0.77% respectively.
Technically, Nifty index is trading sideways in a range (23450-23950 levels) for past couple of sessions. Either side break from this range will set the tone for next directional move in that direction.
Derivatives Overview & Outlook
Yesterday, Nifty, Banknifty and Finnifty futures rose marginally without any significant change in open interest. On the other hand, Midcapnifty futures added 11% of open interest as long buildup.
All F&O sectors, barring Metal and Realty, ended on a positive note. Amongst them, Banking, Finance, Chemicals, Infrastructure and Power stocks witnessed maximum addition of long positions along with some short covering in FMCG and Oil & Gas stocks.
On options front, put writing was seen at multiple strikes along with call writing at OTM strikes. Maximum put positions are at 23000 PE and maximum call positions are at 24500 CE followed by 24300 CE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 1783 Cr in the cash segment, sold stocks futures worth Rs 759 Cr also sold index futures worth Rs 767 Cr. DIIs were net buyers in the cash segment to the tune of Rs 1690 Cr during the week.
Nifty Futures, Banknifty Futures and Finnifty Key Levels
Nifty – Resistances 23950-24050; Supports 23770-23620
Banknifty – Resistances 51800-52100; Supports 51100-50900
Finnifty – Resistances 23900- 24000; Supports 23720-23620
F&O Security in Ban Today: MANAPPURAM
Disclosure
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