Daily Market Update- Equity 13 Dec 2022 | Globe Capital
13-Dec-2022
Daily Market Update- Equity 13 Dec 2022

Nifty index ended flat after lackluster trading session, closed shop at 18497 levels, almost unchaged from its previous closing value.

Overview and Outlook

Global Market Update

  • US equity markets were up by 1.5%
  • European equity markets ended in red
  • Asian equity markets are trading in green
  • SGX Nifty is trading on flat to positive note (as on 8:18 AM)

 

News highlights from across the globe

  • Sam Bankman-Fried, who founded and led FTX until a liquidity crunch forced the Bahamas-based cryptocurrency exchange to declare bankruptcy, was arrested on Monday in The Bahamas after being criminally charged by U.S. prosecutors.
  • Crude rose 3.6% as a key pipeline between the U.S. and Canada remains shut, with uncertainty clouding reopening prospects. Gold futures fell 0.9%.
  • Investors will be closely watching the US inflation data, which is expected to show prices, while still high, are continuing to decelerate.

 

Important news updates from the domestic front

  • Dalmia Bharat: Dalmia Cement (Bharat), a wholly owned subsidiary, has entered a binding agreement for the acquisition of the cement, clinker and power plants from Jaiprakash Associates and its associate.
  • Tata Motors: The company’s board has given in-principle approval for partial divestment of the company’s investment in subsidiary Tata Technologies via the IPO route.
  • ICICI Bank: The bank raised Rs 5,000 crore via senior unsecured redeemable long-term bonds on private placement basis.
  • KEC International: The company secured new orders worth Rs 1,349 crore across its transmission and distribution, civil and cables verticals.
  • Maruti Suzuki India: The company unveiled its first mass segment flex fuel prototype car, designed to run on any ethanol-petrol blend.
  • V-Guard Industries: The company signed definitive agreements to acquire 100% stake in Sunflame Enterprises for Rs 660 crore by mid of January 2023.
  • One97 Communications: The board of the company will meet on Dec. 13 to consider the proposal of a share buyback.

 

Nifty Outlook

Nifty index ended flat after lackluster trading session, closed shop at 18497 levels, almost unchanged from its previous closing value.

Broader markets outperformed benchmark as Mid & Small cap index gained 0.5% each, due to which market breadth was inclined towards the advancing side.

Majority of sector gauges tracked at NSE settled in green, PSU Bank & Oil & Gas index were at the top of the tally, up over 1% each while Consumer Durables index lost maximum, down 0.9%.

Nifty index is trading near crucial supports, fall & sustenance below 18350 levels will open the gates for further sell off towards 18200 and lower levels.

 

Derivatives Overview & Outlook

Yesterday, no meaningful activity was seen among Nifty and Banknifty futures on price front whereas on open interest front Nifty futures shed around 3% of open interest and Banknifty futures added around 4% of open interest.

On sectoral front, long buildup was seen among Cement, Finance and Capital Goods stocks whereas some short buildup was seen among Pharma stocks.

On options front, put writing was seen at 18400 & 18500 strikes along with call buying (unwinding by writers) at 18600 strikes and maximum positions are at 18400 PE and 18600 CE.

 

FII & DII Trading Activity

Yesterday, FIIs sold stocks worth Rs 139 Cr in the cash segment, sold stocks futures worth Rs 310 Cr and bought index futures worth Rs 658 Cr. DIIs were net buyers in the cash segment to the tune of Rs 696 Cr.

 

Nifty Futures & Bank Nifty Futures Key Levels

Nifty Futures – Resistances 18700-18800; Supports 18520-18450

Banknifty Futures – Resistances 44000-44250; Supports 43700-43500

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