South Korea’s opposition party filed a motion to impeach Acting President Han Duck-soo after he resisted pressure to appoint court judges who might increase the likelihood of removing President Yoon Suk Yeol from power.
The Democratic Party proposed the impeachment motion and presented it at a plenary session of the National Assembly, with plans to hold the vote as early as Friday.
South Korean opposition files impeachment motion against acting President- Daily Market Update 27th Dec 2024
Overview and Outlook
Global Stock Market Today
- US equity markets settled on a flat note.
- European equity markets remained close.
- Majority of Asian equity markets are trading in green.
- GIFT Nifty is trading higher by 80 points, Nifty futures likely to open around 23940 levels.
Nifty Overview & Outlook
Benchmark Nifty index once again settled on a flat note at 23750 levels after a lackluster trading session.
Broader markets performed in line with the benchmark as both Mid and Small cap indices settled on a flat note.
Performance on the sectoral front was mix. Auto and Healthcare index were at the top of the tally, gained close to 1% each. On the other hand, Media index was at the bottom of the tally, fell 1.46%.
Technically, Nifty index is trading in a thin range i.e. 23650-23870 levels for past couple of sessions. Going ahead, either side break from this range is essential for any directional move in that direction.
Derivatives Overview & Outlook
Yesterday, no significant change was seen in all major index futures on the price front, whereas on open interest front, Banknifty futures added around 7.5% of open interest as short buildup along with some long unwinding in Nifty and Finnifty futures with decrease in open interest by 15.8% and 6% respectively.
Nifty futures rolled 78% of open interest into next contracts which was marginally lower than the previous month rollovers of 79%.
On options front, Nifty will start the first weekly contract of the January series with maximum positions at 25000 CE followed by 24000 CE and 23800 PE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 2377 Cr in the cash segment, sold index futures worth Rs 1796 Cr and bought stock futures worth Rs 3141 Cr. DIIs were net buyers in the cash segment to the tune of Rs 3336 Cr.
Nifty Futures, Banknifty Futures and Finnifty Key Levels
Nifty – Resistances 23820-24000; Supports 23650-23580
Banknifty – Resistances 51800-52000; Supports 51400-51200
Finnifty – Resistances 23900- 24000; Supports 23720-23620
F&O Security in Ban Today: NIL
Disclosure
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